We wanted to remind you that applications are now open for the third SEISS grant to support self-employed people affected by coronavirus (COVID-19).
The rules on who is eligible to claim are different to those for the previous SEISS grants. However, a Self Assessment tax return for the tax year 2018 to 2019 showing self-employment income (unless one of the existing exceptions applies) will still need to have been submitted in order to claim.
The third grant will be based on 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500, and will cover the period from 1 November to 29?? Jan??uary 20??21. Self-employed people who are eligible will be able to claim the third grant at any time from 30?? November 2020 to 29?? January 2021.
As previously, the third grant will also be subject to Income Tax and self-employed National Insurance and must be reported on 2020 to 2021 Self Assessment tax returns, due by 31?? January 2022.
For more guidance please see below: