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SEISS follow-on grant – what you need to do

The Self Employment Income Support Scheme (SEISS) has been extended.

Further details were announced on June 12 when it was confirmed that applications for this grant – the second and most likely final grant of its type – will open in August.

Eligible individuals whose business has suffered because of Covid-19 on or after 14 July 2020 can claim a taxable grant worth 70% of their average monthly trading profits, paid out in a single instalment and capped at £6,570 in total.

The level of support for the first SEISS grant was 80% of average monthly trading profits, capped at £7,500 in total.

Before applying for the second SEISS grant, you need to be sure you meet the conditions laid down by HMRC. The person applying must:

  • carry on a trade which has been adversely affected by reason of circumstances arising as a result of coronavirus or coronavirus disease (after 14 July 2020 in the case of the second grant)
  • have delivered a tax return for the 2018-19 tax year on or before 23 April 2020
  • have carried on a trade in the tax years 2018-19 and 2019-20
  • intend to continue to carry on a trade in the tax year 2020-21
  • if that person is a non-UK resident or has made a claim under section 809B of ITA 2007 (claim for remittance basis to apply), certify that the person’s trading profits are equal to or more than the person’s relevant income for any relevant tax year or years
  • be an individual, and
  • meet the profits condition

There is no need for you to have claimed the first grant to be able to claim the second grant, but if you were eligible to claim the first grant and have not already done so, please note the final deadline for claiming the first grant is July 13.

The conditions for who can claim the a taxable grant through the SEISS can be found here

Examples of when the “adversely affected” criteria will be met can be found here

If you have any queries, please contact Chris Hadley, our senior private client tax manager

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