Fund title: Self Employment Income Support Scheme Grant Extension
Focus of fund/fund aims:
Grants for self-employed people who have a loss of earnings due to coronavirus. The scheme has been extended until April 2021 and includes an increased grant to cover losses incurred from 1 November 2020 until 31 January 2021.
To be advised
The Self Employment Income Support Scheme (SEISS) allows people who are self employed to claim a grant to make up for a loss of profits as a result of coronavirus. The scheme has so far offered grants in two instalments to self-employed people and it is now being extended to provide a further two grants, each available for three-month periods covering November 2020 to January 2021 and February 2021 to April 2021.
Self-employed individuals whose businesses have been affected by reduced demand due to coronavirus are eligible to apply. They need to have been eligible for the first and second grants offered by the SEISS although they do not have to have claimed the previous grants.
The third grant will cover a three-month period from 1 November 2020 until 31 January 2021. The grant will be calculated at 80% of 3 months’ average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. This is an increase from the previously announced amount of 55%.
Details of the fourth grant will be available in due course.