SEISS: Grant applications to open in two weeks – check on your eligibility now
We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.
SEISS grants can be claimed by the self-employed who have had their business or income affected by coronavirus. The grants can be claimed in tranches but they can only be claimed from certain dates.
Recently, Rishi Sunak extended SEISS as a second lockdown was introduced and the level of support was raised to 80 percent of income.
The grants can be claimed online and the service for the next set of grants will be available from November 30, exactly two weeks away.
According to the Government, HMRC will provide full details about claiming and applications in guidance to be published on Gov.uk in “due course”.
To be eligible for the extension, certain criteria must be met.
Eligibility will require self-employed individuals, which includes members of partnerships, to:
- Have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
- Declare that they intend to continue to trade and either: are currently actively trading but are impacted by reduced demand due to coronavirus or
- Were previously trading but are temporarily unable to do so due to coronavirus
SEISS extension welcomed but Rishi Sunak urged to extend into March [INSIGHT]
Martin Lewis warns against debt consolidation – credit card fears rise [WARNING]
Martin Lewis blasts HMRC on furlough problem [EXPERT]
The coming payment will provide a taxable grant calculated at 80 percent of three months average monthly trading profits, capped at £7,500 in total.
The Government’s extension was broadly welcomed but many remained critical of the state’s efforts as thousands of people still reportedly remain illegible for support.
This can affect different parts of the UK very differently, with analysis of businesses in Wales highlighting how problematic the situation can be.
According to analysis from backinbusiness.org.uk, of the 200,000 small businesses in Wales, 72,000 had “slipped through the support net.”
This is especially worrying given that 96 percent of the 200,000 businesses based in Wales are self-employed sol traders.
Liz Barclay, the CEO at backinbusiness.org.uk, reflected on these problems and called on the Government to take action: “Many regions across the UK, including Wales, rely on small businesses and the self-employed to support their local economy.
“And those businesses, including freelancers, need clarity and better and more targeted financial support.
“Time and time again we’ve been asking the chancellor to offer support to the three million excluded.
“We had 5.1 million self-employed people in the UK at the end of 2019, the latest ONS [Office for National Statistics] data shows that the figure now stands at 4.53 million.
“Half a million people have moved out of self-employment.
“We plead with the chancellor to heed our warnings: it will do serious damage to the economic recovery if he continues to ignore this group.”
Backinbusiness.org.uk are not the only organisation to call on the Government to make changes, as similar sentiments have recently been shared by Fiverr, the Association of Independent Professionals and the Self-Employed, and Qdos.
Source: Read Full Article