The Self-Employment Income Support Scheme is reopening from 17 August 2020, enabling qualifying self-employed people to benefit from a second taxable grant, worth 70% of average monthly trading profits.
The eligibility criteria are the same as the first grant, so those who were eligible for the first SEISS grant will also be eligible for the new grant provided that their business has been adversely affected by Covid-19 since 14 July 2020.
Claimants should keep appropriate records to demonstrate how their business has been adversely affected - for example demonstrating that because of Covid-19 income continued to be lower than it would normally have been, and/ or operating costs were higher.
Those who want to claim have until 19 October 2020 to do so. HMRC will this week be writing to people who it thinks may be eligible.
If you require any assistance, get in touch with us at Scholes Chartered Accountants.