Further increase in coronavirus help for the self-employed.

If we can be of any assistance, please don’t hesitate to call us.

In October, the government announced that grants under the Self-Employment Income Support Scheme (SEISS) for the period from 1 November 2020 to 31 January 2021 would be 40% of profits. A further increase has been announced along with other changes to the SEISS.

What’s the full story?

The amount of grant, which applies across all the UK, is increased to 80% of average trading profits for the month of November 2020 alone. The grant for December and January remains at 40%. The effect of the November increase is to raise the total level of the grant available from 40% to 55% of trading profits across the period 1 November 2020 to 31 January 2020.  

SEISS grants will be paid faster – you will be able to make a claim via HMRC’s site from 30 November rather than 14 December, as originally planned. The previous HMRC site for claiming SEISS grants has been closed. A new one will be available on 30 November.  The grants can be claimed by self-employed individuals and members of partnerships whose income has been adversely affected by coronavirus. 

For more information on how Savvy can help you streamline your workspace, save money, and improve the overall well-being of your employees, sign up for a free trial today.

CONTACT US

Dedicated Accountants & Bookkeepers