The Chancellor has today announced that the Self-Employment Income Support Scheme (SEISS) will be extended to April 2021 for those whose self-employed businesses have been adversely impacted by Coronavirus. An initial taxable grant will be available to cover the period from November 2020 to January 2021 and will be based on 20% of average monthly trading profits, capped at £1,875. The grant will be available to those who currently qualify for the SEISS and are continuing to actively trade, but face reduced demand due to the pandemic. An additional second grant will become available to cover the period from February 2021 to April 2021, though full details of this have not yet been announced.
There have been more than 2.6 million claims made under the SEISS scheme so far, worth a total of £13 billion.
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At Hawsons we have a dedicated team of highly qualified and experienced tax specialists who offer personal and corporate tax advice from our offices in Sheffield, Doncaster, and Northampton and we are here to support our clients throughout these difficult times.
If you would like to discuss your SEISS claim, please get in touch with your usual Hawsons contact who will be happy to help you.
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