IRRV Alert - week ending 19th June 2020
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Self-Employment Income Support Scheme Eligibility (19 June 2020)
Self-Employment Income Support Scheme Eligibility
19 June 2020
The Self-Employment Income Support Scheme (SEISS) currently allows you to claim a taxable grant 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.
If you’re eligible you must make your claim for the first grant on or before 13 July 2020. This scheme is being extended, click here to find out more about the extension to the scheme.
Your eligibility for the SEISS can be affected if you have different circumstances including:
- if you’re a member of a partnership
- if you’re on or took parental leave
- if you have loans covered by the loan charge and have not agreed a settlement with HMRC before 20 December 2019
- if you claim averaging relief
- if you’re non-resident or chose the remittance basis
For further information please visit the GOV.UK website.