Second SEISS Grant Open for Applications
Today the government has opened applications for the second Self-Employment Income Support Scheme grant. 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 their business has been adversely affected since 14 July 2020.
You can use the following HMRC page to check whether you have been adversely affected since 14 July 2020: https://www.gov.uk/guidance/decide-if-your-business-has-been-adversely-affected-for-the-self-employment-income-support-scheme
If you applied for the first grant or HMRC believe you may be eligible for the second grant then you should have received communication from HMRC themselves inviting you to register for the second grant.
There is no minimum threshold over which a business’s income, costs or activity need to have changed by, but you should 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.
As with the first SEISS grant, we cannot make the claim on your behalf however we can assist you through the application process and answer any queries you may have.
Once you have completed the claim, you should receive the payment within 6 working days.
You can apply for the second grant by using the link below. Eligible applicants will have until 19 October 2020 to make a claim.
Author: Tim Preece FCCA
A former pupil at Lancaster Royal Grammar School, Tim joined Scott & Wilkinson in 1992 as a trainee after completing a degree in Maths and Economics at Leeds University and qualified as an Accountant in 1996. Tim was...
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