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After initially announcing an extension to the Self-Employment Income Support Scheme (SEISS) in September, the amount the scheme’s third grant is worth has changed numerous times. Initially the third SEISS grant, which covers November to January 2021, was only due to be worth 20 percent of average monthly trading profits. This was later increased to 40 percent, then to 55 percent, and now the third grant is worth 80 percent of average monthly trading profits - capped at £7,500 in total over three months.
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The grant was increased in light of the national lockdown, and the ongoing impact of restrictions on businesses.
Chancellor Rishi Sunak said: “I’ve always said I would do whatever it takes to protect jobs and livelihoods across the UK - and that has meant adapting our support as the path of the virus has changed.
“It’s clear the economic effects are much longer lasting for businesses than the duration of any restrictions, which is why we have decided to go further with our support.
“Extending furlough and increasing our support for the self-employed will protect millions of jobs and give people and businesses the certainty they need over what will be a difficult winter.”
READ MORE: SEISS grant: When can you claim the third grant for the self-employed?
SEISS: Can you claim the self-employed grant if you are still working? (Image: GETTY)
SEISS: The Self-Employment Income Support Scheme will offer two further grants which cover November to April 2021 (Image: GETTY)
Can you claim the self-employed grant if you are still working?
If you are self-employed and are still working, you may be able to claim the next two SEISS grants.
The Government website for self-employed support states: “If you’re getting less work or no work because of coronavirus (COVID-19), you might be able to claim a grant through the Self-Employment Income Support Scheme.”
Currently the criteria for the Self-Employment Income Support Scheme states 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”.
SEISS: You may be able to claim the next SEISS grant if you are still working (Image: GETTY)
However, to claim the next two grants, you do not have to have claimed the previous SEISS grants.
Claimants must also “declare that they intend to continue to trade”, and are either “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”.
“Impacted by reduced demand” differs from the previous terms of the scheme.
MoneySavingExpert explains: “This differs from grant 1 and grant 2, where any adverse impact due to COVID-19 would mean you qualified for the scheme.
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SEISS: What is the Self-Employment Income Support Scheme? (Image: EXPRESS)
“This means you CAN'T make a claim on the basis you can't/couldn't work because you were self-isolating or shielding (both would have made you eligible for grants 1 and 2).
“Also additional expenses - such as PPE - now don't count.”
A number of people are not eligible to claim from the Government’s SEISS scheme.
To be eligible, you must have filed a tax return for 2018/2019.
To claim the grant, your average trading profit must also be less than £50,000 per year.
You must also earn more than 50 percent of your total income through self-employment to be eligible.
Applications for the third SEISS grant, or the first of the extended scheme, were due to open on December 14.
However due to the national lockdown the application date has been brought forward, and the scheme will be open from November 30.
The application date and the amount of the scheme’s fourth grant has not yet been announced, but it will cover February to April 2021.