Update: 5th November 2020
A third round of the Self-Employment Support Scheme has been announced. Like the previous two rounds, the grant will be calculated on a self-employed person’s average trading profits over a three-month period, with self-employed individuals, sole-traders and partnerships to receive 80% of their average monthly trading profits for November, December and January. There is a cap of £2,500 a month, with a maximum of £7,500 able to claim in total.
A fourth grant covering the period between February and April 2021 has also been announced, with further details expected from the government closer to the time.
For more information on the scheme, visit the gov.uk website.
Update: 28th September 2020
Further extension to the Self-Employment Income Support Scheme announced
The government will be extending the Self-Employment Income Support Scheme until April 2021.
A taxable grant will be offered to eligible sole traders or partnerships that are actively trading but face reduced demand due to COVID-19. This lump sum will cover three months' worth of profits - from November 2020 to January 2021 - at 20% of your average monthly trading income. The maximum grant available is £1,875.
A second grant will also be available from February to April 2021, which will be adjusted in response to these ever-changing circumstances.
For more information, visit the gov.uk website.
Update: 17th August 2020
Round two of the Self-Employment Income Support Scheme is now open
If you're self-employed and your business has been negatively impacted by COVID-19 on or since 14th July 2020, then you could be eligible to claim via round two of the Self-Employment Income Support Scheme. Sole-traders and partnerships can make a claim before 19th October 2020, even if they did not claim a grant through the first round. However, eligibility can vary depending on a range of circumstances.
To see if you're eligible for round two, click here.
To make a claim, click here.
Update: 14th July 2020
Round two of the Self-Employment Income Support Scheme to begin on 17th August 2020
If you received a grant via the first round of the Self-Employment Income Support Scheme, you could be eligible for further funding through the second round of the scheme, beginning 17th August 2020. This second and final grant is taxable and worth 70% of a self-employed individual's, sole trader's or partnership's average monthly trading profits, with a cap of £6,750 in total. The eligibility criteria for the second grant will be the same as the first, with applicants required to prove their business has been adversely affected by COVID-19 since 14th July 2020.
Update: 1st June 2020
Self-Employment Income Support Scheme - Round two
The government has announced its plan to extend the Self-Employment Income Support Scheme for self-employed individuals or partnerships whose trade continues to be impacted by COVID-19. Those eligible will be able to claim a second and final grant under the scheme in August 2020. This grant will be taxable and worth 70% of the applicant's average monthly trading profits for a three-month period. The grant will be paid out in single instalment, with a total cap of £6,570 per claim. The government will share further information about the second round of the Self-Employment Income Support Scheme's release shortly. Until then, you can read more about its plans here.
Self Employment Income Support Scheme - Applications for round one to close on 13th July
If you'd like to make a claim for the first round of the Self-Employment Income Support Scheme, for which you can claim 80% of your average monthly trading profits over a three-month period, you must submit a claim before Monday 13th July 2020. This grant is made in a single instalment, capped at £7,500 per claim.
For both the first and second round of grants, the eligible individual must be the one to make the claim.
The guidance for SEISS has been updated to clarify some areas – get the latest information here.
Self-Employment Eligibility Tool
If you’re a sole trader or partnership and would like to know if you’re eligible for SEISS, click here to use the government’s Self-Employment Eligibility Tool.