CAN YOU CLAIM FOR THE SECOND SELF EMPLOYMENT INCOME SUPPORT SCHEME GRANT?
To claim the second SEISS grant you must remain eligible and be able to confirm to HMRC that your business has been adversely affected on or after 14 July 2020. If you are not self employed, but have friends who are, please do share this information. Remember, It is possible that you are able to claim the second SEISS grant, if you meet the eligibility criteria and your business has been adversely affected on or after 14 July, even if you did not make a claim for the first.
ADVERSELY AFFECTED?
To determine whether your business has been adversely affected on or after 14 July, you may like to consider whether:
You have had to scale down, temporarily stop trading or incurred additional costs because:
- your supply chain has been interrupted
- you have fewer or no customers or clients
- your staff are unable to come in to work
- one or more of your contracts have been cancelled
- you had to buy protective equipment so you could trade following social distancing rules
You have been unable to work because:
- You are shielding or self isolating
- You are on sick leave because of Covid-19
- You have to care for others
There has been significant debate in the media about the term “adversely affected”, and Martin Lewis has gathered a number of useful scenarios and examples that may be of further help.
Remember you will need to keep evidence to confirm that your business was adversely affected at the time of your claim.
It is possible that you are able to claim the second SEISS grant, if you meet the eligibility criteria and your business has been adversely affected on or after 14 July, even if you did not make a claim for the first.
MAKE A CLAIM FROM 17 AUGUST
HMRC will contact you if they believe you are eligible. The online service is expected to be available from 17 August. Claims must be submitted by 19 October 2020. The amount will be 70% of your annual average profits, capped at a total of £6,750 to cover the three months from July to October. This is the second, final and taxable grant.
RECAP OF SEISS QUALIFYING CONDITIONS
Qualifying self–employed taxpayers must be:
- Registered with HMRC as self-employed
- Submitted tax returns for 2018/19 and 2019/20 which include self employed trading income
- Trading in 2018/19, 2019/20 is still trading or would be if not for Covid-19, in 2020/21
- Losing trading profits & making at least half of average income from self employment
- Average self employed profits for 2018/19 do not exceed £50,000 and were more than nil or average self employed profits for 2016/17 to 2018/19 do not exceed £50,000 and were more than nil.
Further details and government guidance.
As with the first SEISS grant , taxpayers must submit their claims personally, we as agents are unable to do this for you. That said, if you require our help to prepare your claim, please do get in touch.