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SEISS extended for a second grant

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On 29 May, the Chancellor announced that the SEISS will be extended, with eligible individuals able to make a claim for a second and final grant in August 2020. The grant will be worth 70% of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,570 in total.

HMRC has updated its guidance Claim a grant through the self-employment income support scheme to reflect the second grant, and to note that eligible individuals who have not yet claimed the first grant must do so on or before 13 July 2020 (although, claiming the first grant is not a pre-condition for claiming the second).

As at 31 May, HMRC figures showed that 2.5m claims had been made under the scheme, worth a total of £7.2m.

The Treasury’s news story Chancellor extends self-employment support scheme and confirms furlough next steps provides an overview of the changes to both of the coronavirus worker support schemes.

Issue: 1490
Categories: News