HMRC have announced that the second Self-Employment Income Support Scheme grant is opening for eligible people to claim.
This week they are writing to self-employed people who may be eligible. The scheme will open for claims on 17 August 2020 and you will be given a date to make a claim. You can claim any time between your allocated date and the 19 October 2020.
The eligibility criteria for the second grant is exactly the same as the first grant – so self-employed people who were eligible for the first SEISS grant will be eligible for the second grant, so long as your business has been adversely affected since 14 July 2020. This typically means that your business has experienced lower income and / or higher costs because of coronavirus (COVID-19) since 14 July. There is no minimum threshold over which a business’s income, costs or activity need to have changed by, but you will be asked to keep appropriate records as evidence of how your business has been adversely affected.
The second taxable grant is worth 70% of average monthly trading profits, a reduction from the 80% available under the first grant. This will be paid out in a single instalment and will be based on three months’ worth of trading profits and capped at a maximum of £6,570.
Self-employed parents whose income may have been affected if they took time out to have children will also now be able to claim if they meet the eligibility criteria. There’s more information for new parents, including an online form on GOV.UK
The quickest and easiest way to claim is to apply online using your Government Gateway account. There is a short video on HMRC’s YouTube channel that you can use to ensure you know how the process works. Once you have completed a claim, you will receive payment within 6 working days.
Although Hillier Hopkins cannot make a claim for you, we are here to help you understand your eligibility and level of entitlement and support you with any other queries . If you have questions about this please get in touch.