The Self-Employment Income Support Scheme (SEISS) allows self-employed people to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500 - equivalent to three months’ profits.
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.
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 on Sunday 12th June 2020, but in the meantime, 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.