SEISS Grant Extension: The government has announced an extension to the grant available for the self-employed, which includes:
The grant will be limited to self-employed individuals who are currently eligible for the SEISS and are actively continuing to trade but are facing reduced demand due to COVID-19.
The scheme will last for six months, from November 2020 to April 2021.
The extension will be in the form of two taxable grants.
The first grant will cover a three-month period from the start of November until the end of January. This initial grant will cover 20% of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £1,875 in total.
The second grant will cover a three-month period from the start of February until the end of April. The government will review the level of the second grant and set this in due course.