The Chancellor has confirmed that the Self-Employment Income Support Scheme (SEISS) is to be extended for a final three-month period to 31 August 2020. The maximum grant for the final 3 months of the scheme will be based on 70% of eligible earnings (previous quarter 80%). This means that the SEISS will in total provide qualifying self-employed workers up to 6 months financial support from the government.
The following points list some of the most important eligibility criteria for the scheme:
Eligible applicants will have to wait until the last month of the claim period, August 2020, to make a claim. The maximum grant for the three-months will be £6,570 (Previous quarter £7,500) paid in a single instalment. It will be possible for a qualifying self-employed person to claim for the second grant even if they had not claimed for the first grant.