COVID-19: Essential information
COVID-19: Support for the self-employed
Jhanvi Gudka
Last week the Chancellor, Rishi Sunak, announced an extension to the Self-Employment Income Support Scheme (SEIS) allowing those eligible to claim a second grant capped at £6,750. The grant will be worth 70% of average monthly takings and will be paid out in a single installment covering three months’ profits.
Individuals can continue to apply for the first SEIS grant until 13th July – this is a taxable grant worth 80% of average monthly takings and is capped at £7,500. Applications for the second (and final) grant will open in August. The criteria to apply are the same for both grants and individuals will have to prove their business has been affected by Coronavirus around the time of taking out the grant. Guidance for the second grant will be published on 12th June and we will update you with the latest information when we can.
You can find out more about the other support available for your small business here.
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