Self-employment income support scheme second payment
HMRC have release information regarding the second Self-Employment Income Support Scheme for eligible people.
HMRC will be writing to self-employed people this week who may be eligible to make an additional claim for the SEISS grant. The scheme will open for new claims on 17 August and those that are eligible will be given a specific date to make a claim. If you are eligible, you can claim any time between your allocated date and the 19 October 2020.
The criteria for this second grant is the same as the first grant, however, you should only make an additional claim if you can demonstrate that your business has been adversely affected since 14 July 2020. This could be a reduction in income, or your business has experienced higher costs since the 14th July 2020 because of Covid -19.
There is no minimum threshold by which a business’s income, costs or activity need to have changed but you will be asked to keep appropriate records as evidence of how your business has been affected.
The second grant will be 70% of your average monthly trading profits and will be paid out in a single instalment and will be based on three months’ worth of trading profits and capped at a maximum of £6,570.