The Self Employed Income Support Scheme
The third grant under this, covering the period November 2020 to January 2021, will now be calculated based on 80% of 3 months’ average trading profits, the same as the first.
It will be paid out in a single instalment and capped at £7,500.
The window for claiming a grant will open on 30 November, two weeks earlier than previously announced.
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); and
- declare that they intend to continue to trade and either:
- are currently actively trading but are impacted by reduced demand due to coronavirus; or
- were previously trading but are temporarily unable to do so due to coronavirus.
The Government has already announced that there will be a fourth SEISS grant covering February to April. The Government will set out further details, including the level, of the fourth grant in due course.