The Chancellor announced on Friday an extension to the SEISS. Those eligible can claim a second and final grant capped at £6,750. The grant is worth 70% (the first grant was for 80%) of average monthly trading profits in 2018/19. It will be paid out in one lump covering three months trading profits and will be paid in August 2020.
The first grant must be claimed by 13 July. If you have not yet claimed this, you should do so as soon as possible. Once the claim has been made, you should receive the grant directly into your bank account within six working days.
Applications for the second grant will open in August.
To be eligible for either or both grants you need to be able to confirm that your business has been adversely affected by coronavirus. You can therefore still be trading. You do not need to have claimed the first grant to receive the second grant. It is possible that you may only now be affected by COVID-19 in this second period from June to August.
Please contact us at Haslers if you have any queries.
Extension to Self Employed Income Support Scheme (SEISS)