2 November 2020
As Rishi Sunak revealed that there would be an extension to the Self-Employment Income Support Scheme (SEISS) to help any self-employed individuals or members of partnerships that have been adversely affected by coronavirus through the Winter months, HMRC has published a webinar on the topic to assist anybody intending to make a claim for grants under the scheme.
The webinar will cover:
How to make a claim under SEISS
• • • •
Who is eligible
The amount that can be claimed Other support that may be available
The two additional grants that are being introduced, one of which will cover the period from November 2020 – January 2021, and the other which will relate to February 2021 – April 2021, were announced by the Chancellor within the Winter Economy Plan on 24 September 2020. Initially, the first additional grant would be to cover 20% of average monthly profits, up to a maximum of £1,875. On 9 October 2020, however, it was announced, that this would be doubled to 40% of average monthly trading profits, which will be paid out in a single instalment and capped at £3,750.
The level of support offered under the second additional grant will be reviewed by the Government in due course.
The online service for the next grant will be available from 14 December 2020.
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SEISS extension increased for November 2020 3 November 2020
The Self Employment Income Support Scheme (SEISS) will increase from 40% to 80% for the period of November, doubling to what was originally proposed. During his statement in parliament today (2 November), the Prime Minister announced that the Government will increase the SEISS percentage for November from 40% to 80%, to match the support given under the CJRS extension.
SEISS is calculated over 3 months therefore this increases the total grant from 40% to 55% of trading profits for November to January with the maximum grant increasing to £5,160.
The HM Treasury has also advised that grants will be paid faster than previously planned, with the claims window opening at the end of November rather than the middle of December. We await further clarification on the exact date and will advise when further details are available.
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Self-Employment Income Support Scheme (SEISS) Grant Extension 4 November 2020
SEISS Grant Extension increased to reflect the 80% increase for November and date to claim brought forward.
As announced yesterday (2 November 2020) by the Prime Minister, Boris Johnson, the extended support given under the SEISS will increase to 80% to mirror the support given under CJRS for the period of November.
The SEISS Grant Extension will provide increased support to the self-employed in the form of two grant payments, each covering a three-month period - November to January and February to April. As with previous grant payments, grants will be paid in two lump sum instalments to cover these periods.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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