Third SEISS grant – important changes

Posted on November 30, 2020 - News

SEISS grant meme - man on laptop

We’re contacting all of our self-employed clients that may be eligible to let them know about the third SEISS grant which launches on 30 November.

The rules on who is eligible to claim have changed. However, you still need to have submitted a Self Assessment tax return for the tax year 2018 to 2019, showing self-employment income in order to claim (unless one of the existing exceptions applies).

The third grant, which offers 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500, will cover the period from 1 November 2020 to 29 January 2021.

When should I apply for the third SEISS grant?

Self-employed people who are eligible and in need of support will be able to claim the third grant at any time from 30 November 2020 to 29 January 2021.

There will also be a fourth grant (covering the three-month period from February 2021 to April 2021). We’ll tell our clients more about that nearer the time, including how much it will be and the rules for claiming.

We’ll continue to keep clients updated on the scheme’s developments via our newsletters here.

If you would like more advice on navigating your businesses through the pandemic, call Abrams Ashton Chorley on 01257 273313.