Further to the announcement of the second lockdown and the extension of the Furlough Scheme, the Chancellor has made changes to the the third Self-Employed Income Support Scheme (SEISS) that will apply immediately.
How much is the third SEISS worth now?
The UK government has increased the grant available for November from 40% to 80% of average trading profits, whilst the grant for December and January remains at 40% of profits. As SEISS grants are calculated over three months, the uplift for November to 80 per cent, along with the 40 per cent level of trading profits for December and January, increases the total level of the third grant from 40% to 55% per cent of trading profits. The maximum grant will increase to £5,160.
When can I claim the third SEISS as per the latest government changes?
The claims window will now open on 30th November until 14th December, so businesses that are adversely affected by COVID-19 can access a larger grant sooner.
The Government has also extended the deadline for applying for Government-backed loan schemes to 31st January 2021.
Avoid any confusions or delays and get in touch now to receive help with your application. We assist you in every step of the process so you will receive the grant without any problem.