Firstly, apologies for the 2nd newsletter today but with the ever changing landscape surrounding Coronavirus support packages, there has been an update regarding the Self-Employed Income Support Scheme this afternoon.  

Contrary to our newsletter earlier today, The Government has confirmed this afternoon that they will be increasing the support to the self-employed from 40% of trading profits to 55% (This is the equivalent of 80% for November and 40% for December and January). This now brings the SEISS in line with the updated Job Retention Scheme. 

Furthermore, the grants will be paid faster than previously planned – with the claims window opening on 30 November 2020 rather than 14 December 2020.

To be eligible for the Grant Extension, self-employed individuals, including members of partnerships, must:

• have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
• declare that they intend to continue to trade and either:
• are currently actively trading but are impacted by reduced demand due to coronavirus
• were previously trading but are temporarily unable to do so due to coronavirus

Details regarding the timing and rate of the 4th grant will be reviewed and announced in due course.