Millions of self-employed people whose livelihoods have been affected by coronavirus are now able to claim a second payment of up to £6,570 – as the government continues to help drive the UK’s recovery.
Those eligible for the Self-Employment Income Support Scheme (SEISS) can now claim a second grant covering 70% of their average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits and capped at £6,570 in total, with the money set to land in their bank accounts within six working days of making a claim.
Anyone whose self-employed business has been adversely affected by coronavirus since 14 July 2020 is eligible for the scheme.
Chancellor of the Exchequer Rishi Sunak said:
“Our self employment income support scheme has already helped millions of hard working people, whose get up and go drive is crucial to our economy.”
“It means that people’s livelihoods across the country will remain protected as we continue our economic recovery – helping them get back on their feet as we return to normal.”
The eligibility criteria remains the same as for the first grant, with people needing to have had trading profits of no more than £50,000, making up at least half of their total income.
The SEISS is part of a comprehensive package of support for self-employed people, including Bounce Back loans, income tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays and the various business support schemes the government has introduced to protect businesses during this time.
The Chancellor has also set out the government’s Plan for Jobs to support, protect and create jobs up and down the country – including in the construction and housing sectors through funding to decarbonise public sector buildings and our Green Homes Grant.
Guidance on how the grant works can be found here.
Businesses will be able to make their claim for the second and final grant at any time until the scheme closes on 19 October 2020.
