WellTax Blog

Self-Employment Support Scheme extension

On Friday 29th of May, the Chancellor Mr. Sunak announced that the SEISS support, provided to self-employed which have been affected by coronavirus lockdown measures, will be extended.

Those eligible for the first SEISS grant have time to apply until the 13th of July. For the first grant, individuals may claim up to 80% of their average monthly trading profits, and up to £8,500. The grant covers the equivalent of three months of trading.

Those eligible for the second grant will be able to claim for in August. The final grant will be worth 70% of their average monthly trading profits, covering three months of trading, to a maximum limit of £6,750.

Criteria of eligibility are the same for both grants. Individuals do not need to have applied for the first grant to be eligible for the second one.

Ulterior guidelines will be published on Friday 12th of June.

Follow us at www.well-tax.com to keep receiving updated information.



Photo credit: Glen Carrie

Related articles

01 December, 2023

UK Autumn Statements 2023: what does it mean for individuals?

08 December, 2022

Truss vs Sunak: an overview of the proposed fiscal policies of the two candidates

Search something