Self-Employment Income Support Scheme (SEISS) Second Grant

Individuals and members of partnerships who meet the eligibility criteria will be able to claim the second SEISS grant from the 17^th August.

How is it calculated?

The second grant will be slightly reduced in value, calculated by taking 70% of your average monthly trading profits from the last three Self Assessment Tax Returns. This grant will be paid out in a single instalment to cover the value of 3 months’ profits from the calculation above.

Eligibility

Unlike the second wave of the Job Retention Scheme, you could be eligible for the second SEISS grant even if you did not claim the first grant. You will still be able to take on other employment if you receive the grant, but must confirm that your business has been adversely affected by the coronavirus on or after 14 July 2020. HMRC have provided a list of examples that would qualify you as having been affected as below:

• you’re unable to work because you:
  • are shielding
  • are self-isolating
  • are on sick leave because of coronavirus
  • have caring responsibilities because of coronavirus

• you’ve had to scale down, temporarily stop trading or incurred additional costs because:
  • your supply chain has been interrupted
  • you have fewer or no customers or clients
  • your staff are unable to come in to work
  • one or more of your contracts have been cancelled
  • you had to buy protective equipment so you could trade following social distancing rules

Please note that if you are claiming the second grant you must keep evidence that your business was adversely affected.

Get in touch

The claims portal will become available from 17 August. To make a claim you will need a Government Gateway account, and a UK bank account. If you have any further questions about the second and final SEISS grant you can email misty@griffinaccountancy.co.uk or call the office on 01392 241228.