Millions of self-employed can now apply for a second support grant from the government if their trade has been hit by coronavirus.
This second payment is up to £6,570 and is an attempt to help push the UK towards recovery after the pandemic’s impact on the economy.
The Self Employed Income Support Scheme
The Self Employed Income Support Scheme has been massively successful so far.
Over 2.7 million people have benefited from the scheme, and over £7.8 billion has been paid out.
However, some self employed workers in hard hit industries, such as hair & beauty, or in local lockdown areas, have felt pushed aside without support.
Especially as others were able to get back on their feet earlier.
That’s the reason for this second, and final grant – to support self-employed people like this.
Who Is Eligible For The Second Grant?
Those eligible will receive 70% of their average monthly trading profits.
The payments will land in your account within 6 days of making a claim in one single payment, covering a 3 month period, and capped at £2,190 per month.
The eligibility for the second grant is the same as it was for the first:
- You must not have had trading profits of more than £50,000.
- Your self-employed income must not exceed half of your total income.
- Your business must have been adversely affected by coronavirus.
The key information for this second grant though, is that your self-employed business must have been adversely affected by coronavirus since 14th July.
You can receive this payment even if you’ve benefited from the first SEISS payment back in late May.
The scheme is also open to those who have never used the scheme, and didn’t receive the first payment.
Making A Claim
Like the first payment in late May, HMRC will contact all eligible customers and will advise them to claim for the second and final grant.
However, if you believe you are eligible, you might have to do some chasing.
Angela MacDonald, deputy chief executive at HMRC said this:
“We are trying very hard to contact all those people who are eligible in order to help them to understand when they can make their claim.”
“If you think you are eligible and haven’t been contacted by HMRC, you can go onto the online system which will tell you if you are eligible, and when it is you can make a claim.”
More information on making a claim can be found here. The claims system is open until the 19th October.
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