As previously communicated in this blog this scheme has been extended for six months starting November 1st. The UK government’s 3rd SEISS grant will be based on 40% of three months’ average trading profits, paid out in a single instalment, and capped at £3,750 in total.
The 3rd SEISS grant will be available to self-employed individuals who temporarily cannot trade as well as those who continue to trade but face reduced demand due to Covid-19.
HMRC have now confirmed that the online service for the 3rd grant will be available from 14th December 2020.
An additional 4th grant will still be available to cover the period February – April 2021. However, the amount won’t be confirmed until closer to the time as “it may be adjusted to respond to changing circumstances”.
As per the SEISS grants to date they all remain taxable income and are also subject to National Insurance contributions.
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