Self Employed Income Support Scheme (SEISS) extension

Date: 30th June 2020

If you are self-employed or a member of a partnership and have been adversely affected by COVID-19 you may be eligible for the Self Employed Income Support Scheme (SEISS).

By 21st June 2020,  2.6 million SEISS claims had been submitted (gov.uk) but if you have not yet submitted yours you have until the 13th July 2020 to do so.

 

After the 13th July 2020 you will no longer be able to apply for the first grant, even if you previously lost income due to COVID-19.

​​​​​​​

When can I apply for the second grant?

 

After the success of the first SEISS grants, self-employed individuals can now apply for a second grant.

 

The portal to submit the claims will be launched in August 2020 and for those whose income was not adversely affected before can still claim for the second grant if they did not need to claim for the first. 

 

How much will I receive in the second grant?

 

  • The second grant will pay self employed individuals 70% of their average monthly income for three months (up to £6,570).
  • The grant does not need to be paid back but it will be subject to Tax and NI deductions. 

 

I haven’t claimed for the first grant, what do I need to do?

 

If you have not claimed for the first grant, Oaktree Accountants recommends you do this as soon as possible.

 

After the 13th July 2020 you will no longer be able to make a claim for the first grant, even if you met the eligibility criteria.

 

You can make your claim on the GOV website here.

 

Oaktree Accountants Ltd will continue to update you when updates to the SEISS are announced. If you have any concerns or queries relating to the SEISS contact us today on 01264 324103.

Why not get in touch and see how we can help?

It’s free, it’s confidential and it’s completely without obligation. Simply send us a message or request a call-back and we will be delighted to contact you at the earliest opportunity to discuss your potential needs and share our experience.