Second round of grants for the self-employed opens

17 Aug 2020

The Self-Employment Income Support Scheme (SEISS) has opened for applications for the second and final grant.

Under the scheme, the government pays self-employed individuals a taxable grant based on an average of their earnings over the past three years.

The grant covers up to 70% of earnings, up to a limit of £2,190 a month.

The eligibility criteria for the second grant are the same as for the first one. To be eligible, self-employed workers must have filed a tax return for the 2018/19 tax year and have average trading profits under £50,000 for the past three years.

The claimant's business must have been adversely affected by the coronavirus (COVID-19) at any time since 14 July. Both those who claimed the first grant and those who did not are eligible for the second grant. Claims must be made by 19 October.

Detailed guidance about the grants can be found here.

As your accountants, we can guide you through the SEISS eligibility criteria and the process for checking and claiming. Please contact us for more information.

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In the UK the term accountant is not protected by law, therefore anyone can call themselves an accountant. Being an ACCA member firm means that you can have confidence that we are qualified to handle your finances, help your business grow and that we are regulated by the leading accountancy body in the world. The ACCA Qualification provides a wide-ranging skill-set, which means we are trained to provide both strategic and operational input and adapt quickly to your changing management accounting needs.

Unqualified persons who have trained for book-keeping or tax only simply aren't able to provide these other services as their skillset is too narrow.

Andrew Wright & Co is a trading style of Andrew Wright & Co Limited. Registered in England and Wales: 10641250. Registered office: 10 Cliff Parade, Wakefield, West Yorkshire, United Kingdom, WF1 2TA.