The self-employment income support scheme update
The Chancellor, Rishi Sunak, announced on Friday 29th May plans to extend the Self-Employment Income Support Scheme (SEISS) for those people whose trade continues to be, or is newly, adversely affected by COVID-19 (coronavirus).
Eligible self-employed people will be able to claim a second and final SEISS grant in August; this will be a taxable grant worth 70% of their average monthly trading profits for three months, paid out in a single instalment and capped at £6,570 in total.
The eligibility criteria for the second grant will be the same as for the first grant. People do not need to have claimed the first grant to claim the second grant: for example, their business may have been adversely affected by COVID-19 (coronavirus) more recently.
Claims for the first SEISS grant, which opened on 13 May, must be made no later than 13 July. Eligible self-employed people must make a claim before that date to receive the first SEISS grant (a taxable grant of 80% of their average monthly trading profits, paid out in a single instalment covering 3 months' worth of profits, and capped at £7,500 in total).
It's really important to note that as with the first SEISS grant, the eligible individual must make the claim themselves. The claims process is simple: we will calculate the amount of self-employment support individuals will receive, they don’t need to do this themselves. More information about the second SEISS grant will be available on GOV.UK on 12 June.
Autumn Statement 2023
On 22 November 2023, Jeremy Hunt delivered the 'Autumn Statement for Growth'. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and also the reform of work-related state benefits.
The Budget 2021
The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget ‘meets the moment with a three-part plan to protect the jobs and livelihoods of the British people’.
Self Employment Grant 3
HMRC have now published the qualification rules for the 3rd Self Employed Support Grant which can be applied for via HMRC’s website as from the 30th November ie next Monday. Applications must be submitted by the 29th January 2021. The rules as to who can apply are the same as for the 1st two grants…