SEISS: Self Employed Income Support Scheme
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The SEISS is a range of grants which have been provided by the UK Government during the Covid-19 Pandemic.
This page provides reference to the eligibility criteria and amounts available.
Grant eligibility and criteria is subject to change
The below listing of grants provides background details from HM Treasury and may change.
Grant 1 (March 2020 – 14 July 2020)
Self-employed individuals and members of a partnership are eligible where the taxpayer:
- submitted their self assessment tax return for the tax year 2018/19 by 23 April 2020;
- traded in the tax year 2019/20;
- intends to continue to trade in the tax year 2020/21;
- carries on a trade which has been adversely affected by coronavirus.
Period Covered: March – July 2020
How to claim: Closed. Deadline was 13 July 2020
Amounts available: The average turnover profits from the last 3 tax returns (2016/17, 2017/18 and 2018/19) is taken into account, and then divided by the number of years available. From this, it is then divided by 4 to reach the amount available.
For example: Matt became a consultant in 2014.
He meets all of the eligibility criteria and has the below profits:
– 2016/17: £3,000
– 2017/18: £8,000
– 2018/19: £15,000
HMRC would add up the total profits (£26,000) and then divide by the number of years available (3) to reach an average profit of £8,666.66.
This would then be divided by 12 to reach a monthly amount £722.22.
80% of this is £577.77. This would be the grant payable per month during the grant scheme.
Grant 2 (14 July 2020 – 31 October 2020)
Eligibility: The eligibility for this scheme remains the same as the first grant and your business must be adversely affected on or after 14 July 2020.
Period Covered: 14 July 2020 – October 2020
How to claim: Closed. Deadline was 19 October 2020
Amounts available: Same as Grant 1
Grant 3 (1 November 2020 – 29 January 2021)
Eligibility: The eligibility for the third grant is different to grants 1 and 2.
- You must be a self-employed individual or a member of a partnership.
- You must have traded in the tax years 2018-19 and 2019-20.
- Your 2018-19 tax return must have been submitted no later than 23 April 2020.
- You must either:
- Be currently trading but impacted by reduced demand due to Coronavirus.
- Or have been trading but are temporarily unable to do so due to Coronavirus.
- NEW: You will need to declare that you:
- Intend to continue to trade, and
- ‘Reasonably believe’ there will be a ‘significant reduction’ in your trading profits for the accounting period, due to:
- Reduced business activity, capacity or demand, or
- Inability to trade, due to Coronavirus.
- HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits in the accounting period.
- Evidence must be kept to support this.
Period Covered: 1 November 2020 – 28 January 2021
How to claim: Closed. Deadline was 29 January 2021.
Amounts available: The grant amount remains the same as the first grant, 80% of profits during the affected period, capped at £7,500.
Grant 4 (1 February 2021 – 30 April 2021)
Eligibility: The eligibility for this scheme remains the same as the third grant. You must have submitted a Self Assessment tax return for 2019/20 to be eligible for this grant – this means around 600,000 individuals will be newly-eligible for SEISS.
Period Covered: 1 February 2021 – 30 April 2021
How to claim: Claims open late April (TBC by Government)
Amounts available: The fourth SEISS grant is worth 80% of the three months’ average trading profits which will be paid out in a single instalment, capped at £7,500.
Grant 5 (May 2021 – July 2021)
Eligibility: Not yet confirmed, however likely to be the same as Grant 4.
Period Covered: May 2021 – July 2021
How to claim: Claims open late July (Date TBC by Government)
Amounts available: The amount available will be based on a ‘turnover test’ which is designed to only provide support to people who need it the most as the economy reopens.
People whose turnover has fallen by 30% or more will continue to receive the full grant of 80% of trading profits capped at £7,500.
People whose turnover has fallen by less than 30% will receive a 30% grant, capped at £2,850.