It was announced on the 2 November that the government is increasing its support to the self-employed over the coming months and ensuring people get paid faster than previously planned.
To reflect the recent changes to the furlough scheme, the UK-wide Self-Employment Income Support Scheme (SEISS) will be made more generous – with self-employed individuals receiving 80% of their average trading profits for November.
To ensure those who need support get it as soon as possible, payments will also be made more quickly with the claims window being brought forward from 14 December to 30 November.
As SEISS grants are calculated over three months, the uplift for November to 80 percent, along with the 40 percent level of trading profits for December and January, increases the total level of the third grant to 55 percent of trading profits. The maximum grant will increase to £5,160.
To be eligible for the Grant Extension self-employed individuals, including members of partnerships, must:
- have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
- declare that they intend to continue to trade and either:
- are currently actively trading but are impacted by reduced demand due to coronavirus
- were previously trading but are temporarily unable to do so due to coronavirus