The deadline for the third Self-Employment Income Support Scheme (SEISS) grant is approaching and all claims must be made on or before Friday 29th January 2021.
The third grant is worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.
Eligibility
To make a claim for the third SEISS grant, your self-employed business must have been adversely affected by coronavirus, between 1st November 2020 to 29th January 2021.
HMRC guidance states that to be adversely affected, your business must have suffered a significant reduction in trading profits due to reduced activity, capacity, demand or inability to trade.
If you are unable to work due to having additional caring responsibilities as a result of school closures, you will be eligible to claim, providing you meet all other conditions, and that your trading profits will be significantly reduced as a result of taking time off work
If you were not eligible for the first and second grant based on the information in your Self-Assessment tax returns, you will not be eligible for the third.
Further details on eligibility and how to apply for the third grant are available here.
Making the claim
To make the claim you will need the following information to hand:
- Tax Reference
- National Insurance Number
- Government Gateway user ID and password
- Account number and sort code for the bank account you want the grant paid into
You should keep a copy of all records relating to the claim including:
- The amount claimed
- The claim reference number
- Evidence that your business has been adversely affected by coronavirus
The fourth SEISS grant
Further information about the fourth SEISS grant which will cover a three-month period from the start of February until the end of April will be provided on 3rd March.
If you have any queries about making a claim, or need any further information, please get in touch.
