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18 Aug 2020

Second Self-Employment Income Support Scheme launched

The Government has launched its second stage of its Self-Employment Income Support Scheme (SEISS).

Yesterday (August 17), it was announced that millions of self-employed people whose livelihoods have been affected by coronavirus will be able to claim a second payment of up to £6,570 – as the Government continues to help drive the UK’s recovery.

The details were as follows:

  • second stage of Self Employment Income Support Scheme (SEISS) is now open
  • those eligible will receive a government grant worth up to £6,570
  • over 2.7 million people have benefitted from the scheme so far, receiving £7.8 billion

Over 2.7 million benefited from the first stage of the SEISS - with the Government handing out £7.8 billion of grants to help them through the crisis.

Those eligible will now be able to receive a second and final grant worth 70% of their average monthly trading profits, with the money set to land in their bank accounts within six working days of making a claim.

Anyone whose self-employed business has been adversely affected by coronavirus since July 14 is eligible for the scheme.

HMRC will contact all potentially eligible customers to advise them that they can claim for a second and final SEISS grant.

The eligibility criteria remains the same as for the first grant, with people needing to have had trading profits of no more than £50,000, making up at least half of their total income.

Read the Government statement here



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