As we advised on 1 June the Self-Employment Income Support Scheme is being extended but more details have now been released and there is an unwelcome element therein. In order to claim for the second and final grant your business has to have been adversely affected on or after 14 July 2020.
You can still claim for the second grant even if you did not make a claim for the first grant and you will still be able to make a claim in August 2020.
This grant will still be a taxable grant worth 70% of your average monthly trading profits, paid out in a single instalment covering a further 3 months’ worth of profits, and capped at £6,750 in total. (The last grant if you were eligible was for 80% rather than 70% so the amount you will receive this time will be 87.5% of what you claimed the last time).
HMRC will work out your eligibility the same way as the first grant. If you make a claim for the second grant, you will have to confirm that your business has been adversely affected on or after 14 July 2020 and HMRC have provided the examples below.
To check your eligibility you will need:
- Your UTR Number
- Your National Insurance Number
- Details to the government gateway account used to make your 1st SEISS grant claim.
Adversely Affected Examples: