Those eligible under the Self-employment Income Support Scheme (SEISS) will be able to claim a second and final grant in August 2020.The grant will be worth 70% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,750 in total. The eligibility criteria remain the same as for the first grant, and you will need to confirm that your business has been adversely affected by coronavirus on or after 14 July 2020. You do not need to have claimed the first grant to receive the second grant, for example in circumstances where your business they may only have been adversely affected by Covid-19 more recently.
If HMRC believes that you are eligible for the grant they will contact you on or after 14 July 2020. Please note that the online service for the second grant is not yet available. To find out more about the grant visit https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#extension
At Whiting & Partners we are doing everything we can to help ease the burden you and your business are under during these worrying and uncertain times. If you would like to speak to someone about the SEISS grant please reach out to your usual Whiting & Partners contact.