Chancellor Rishi Sunak has announced additional economic support for workers and the self-employed due to the coronavirus pandemic. The Self-Employment Income Support Scheme (SEISS) is extended until April 2021. Read on to learn more about eligibility and how to apply for SEISS.
“For hospitality establishments that have to deal with reduced opening hours in the coming months, supporting staff salaries and being able to take advantage of the extended reduction in VAT is welcome support.
“However, as government support covers only ‘viable jobs’, thousands of people still face layoffs.
“It is essential to support these people and businesses, especially those who are self-employed, through the winter and beyond, as the coronavirus situation changes.”
READ MORE: SEISS Grant Extension: Will Rishi Sunak Announce Third SEISS Grant?
For example, the terms of the scheme mean that new self-employed people are not entitled to subsidies.
The scheme also does not apply to people who trade through a limited company or trust.
Joanne Harris, Sales Technical Manager at SJD Accountancy, said Express.co.uk: “The Chancellor’s announcements were an opportunity for the government to offer help to those it has not yet supported, including small limited liability companies run by their owners, contractors and freelancers who have been excluded from the various support programs to date.
“While the ability to spread deferred VAT and self-assessment payments over one year is welcome and some could benefit from changes to the rebound lending program, these latest measures and incentives to boost the economy again corporate morale actually offer very little for the UK contingent staff.
“It is disappointing that once again hundreds of thousands of workers – all of whom play a vital role in the UK economy – have simply been left behind.”
How to Apply for the Self-Employment Income Support Program Grant
Applications for the second Self-Employment Income Support Scheme grant are still open.
To apply for the second grant, you must submit your request by October 19, 2020.
Applications for the SEISS extension are not yet open.
HMRC will provide updated details on how to apply for the next SEISS grant under the extension in due course.