Anyone whose self-employed business has been adversely affected by coronavirus since 14 July is eligible for the grant. HMRC will contact all potentially eligible workers to advise them that they can claim for a second and final SEISS grant.
HMRC have confirmed that the eligibility criteria remain 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.
Individuals will need to confirm that their business has been adversely affected by coronavirus. An individual does not need to have claimed the first grant to receive the second grant: for example, they may only have been adversely affected by COVID-19 in this later phase.
The scheme has been extended to accept applications for the second grant until October 19, 2020.The grant will be worth slightly less than the first grant, at 70 percent of average monthly trading profits over three months.The second and final self-employed grant is capped at a total of £6,570. HMRC has announced that those individuals who may have overclaimed or should not have claimed due to not meeting the eligibility criteria should tell HMRC and repay any appropriate amounts to HMRC via the same online portal from which they made the claim. Further details of the repayment of the grant are available here.
If you have any questions about the scheme, please call us on 01702 345 207 to discuss.