Self-Employment Income Support Scheme (SEISS)

Budget 2021 has confirmed details of a fourth grant. This will be 80% of three months' average trading profits to be claimed from late April 2021. Payment will be in a single instalment capped at £7,500 in total and will cover the period February to April 2021. The scheme has been extended to those who have filed a 2019/20 self assessment tax return prior to 3 March 2021. This means that the newly self-employed from April 2019 now qualify subject to satisfying the other conditions.

A fifth and final grant was announced and can be claimed from late July 2021 to cover the period May to September 2021. This grant will be determined by a turnover test. Where the self-employed business turnover has fallen by 30% the grant will be worth 80% of three months' average trading profits capped at £7,500. People whose turnover has fallen by less than 30% will receive a 30% grant, capped at £2,850.

Registered details

Regulated for a range of investment business activities in the United Kingdom by the Association of Chartered Certified Accountants (ACCA) and for Practice Assurance the Institute of Chartered Accountants in England & Wales (ICAEW).

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Contact details

+44 (0) 20 8840 8844

Bhanot & Co, 1st Floor, 126-128 Uxbridge Road, Ealing, London W13 8QS