Chancellor Rishi Sunak has said self-employed workers across the UK will be able to access a second Grant from the government to cover lost income while the country is in lockdown.
The grants paid out by the Self-Employment Income Support Scheme (SEISS) will be worth 70% of a self-employed person’s average monthly trading profits to cover three months’ worth of income. The eligibility criteria are the same for both grants, and individuals will need to confirm that their business has been adversely affected by coronavirus when applying for the second and final grant. An individual does not need to have claimed for the first grant to be eligible for the second. They will be capped at £6,570.
This is the second and final time grants will be offered, the chancellor said.
Applications will open in August 2020. Further information will be available on gov.uk on 12 June 2020.
The scheme so far has been used by 2.6 million people and has paid out £6.8bn in claims to self-employed who have been affected by the impact of coronavirus on the economy.
The Government offered the first grant to the self-employed in March, paying 80% of average monthly trading profits, capped at £7,500. Applications for the first grant will close on 13 July 2020.
No announcement or Grant was made at the Daily press conference regarding Company Directors and those who became self-employed after April 2019.
If you have not yet applied for your first grant and require any assistance – please contact us