Budget 2021
Extension of the Self-Employed Income Support Scheme
The SEISS provides self-employed people whose business and income had been affected by the pandemic to claim money in the form of a grant from the Government.
How to apply
The fourth SEISS grant covering February, March and April 2021will be available to claim the Government website.
Sole traders and partners of a partnership who meet the criteria can claim 80 per cent of average monthly profits capped at £2,500.
From late July there will be a fifth payment, covering the period May, June and July 2021.
Self-employed will need the following information to apply:
- Self Assessment Unique Taxpayer Reference (UTR)
- National Insurance number
- Government Gateway user ID and password
- UK bank details including account number, sort code, name on the account and address linked to the account
There may also be additional information requested for checks such as driving licence and passport.
Agents are unable to claim on clients’ behalf, it is the taxpayers’ responsibility to claim.
Eligibility
This grant will be an 80 per cent of grant given to people whose turnover has fallen by 30 per cent or more.
The self-employed whose turnover has fallen by less than 30 per cent are eligible for a 30 per cent grant.
For self-employed who filed a tax return by midnight 2nd March 2021 whom only became self-employed last year, can now claim the fourth and fifth grants.
The self-employed are now able to submit their 2019-2020 and 2020-2021 self-assessment tax returns as evidence of their earnings to claim the fourth and fifth grant.
There must be an intention to continue trading, or providing a service, beyond the end of the support.
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