The SEISS (Self Employed Income Support Scheme) was a range of grants which were provided by the UK Government during the Covid-19 Pandemic. This page provides reference to the eligibility criteria and amounts available.
Grant 1 (March 2020 – 14 July 2020)
Self-employed individuals and members of a partnership are eligible where the taxpayer:
- submitted their self assessment tax return for the tax year 2018/19 by 23 April 2020;
- traded in the tax year 2019/20;
- intends to continue to trade in the tax year 2020/21;
- carries on a trade which has been adversely affected by coronavirus.
Period Covered: March – July 2020
How to claim: Closed. Deadline was 13 July 2020
Amounts available: The average turnover profits from the last 3 tax returns (2016/17, 2017/18 and 2018/19) is taken into account, and then divided by the number of years available. From this, it is then divided by 4 to reach the amount available.
For example: Matt became a consultant in 2014.
He meets all of the eligibility criteria and has the below profits:
– 2016/17: £3,000
– 2017/18: £8,000
– 2018/19: £15,000
HMRC would add up the total profits (£26,000) and then divide by the number of years available (3) to reach an average profit of £8,666.66.
This would then be divided by 12 to reach a monthly amount £722.22.
80% of this is £577.77. This would be the grant payable per month during the grant scheme.
Grant 2 (14 July 2020 – 31 October 2020)
Eligibility: The eligibility for this scheme remains the same as the first grant and your business must be adversely affected on or after 14 July 2020.
Period Covered: 14 July 2020 – October 2020
How to claim: Closed. Deadline was 19 October 2020
Amounts available: Same as Grant 1
Grant 3 (1 November 2020 – 29 January 2021)
Eligibility: The eligibility for the third grant is different to grants 1 and 2.
- You must be a self-employed individual or a member of a partnership.
- You must have traded in the tax years 2018-19 and 2019-20.
- Your 2018-19 tax return must have been submitted no later than 23 April 2020.
- You must either:
- Be currently trading but impacted by reduced demand due to Coronavirus.
- Or have been trading but are temporarily unable to do so due to Coronavirus.
- NEW: You will need to declare that you:
- Intend to continue to trade, and
- ‘Reasonably believe’ there will be a ‘significant reduction’ in your trading profits for the accounting period, due to:
- Reduced business activity, capacity or demand, or
- Inability to trade, due to Coronavirus.
- HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits in the accounting period.
- Evidence must be kept to support this.
Period Covered: 1 November 2020 – 28 January 2021
How to claim: Closed. Deadline was 29 January 2021.
Amounts available: The grant amount remains the same as the first grant, 80% of profits during the affected period, capped at £7,500.
Grant 4 (1 February 2021 – 30 April 2021)
Eligibility: The eligibility for this scheme remains the same as the third grant. You must have submitted a Self Assessment tax return for 2019/20 to be eligible for this grant – this means around 600,000 individuals will be newly-eligible for SEISS.
Period Covered: 1 February 2021 – 30 April 2021
How to claim: Deadline was 1st June 2021.
Amounts available: The fourth SEISS grant is worth 80% of the three months’ average trading profits which will be paid out in a single instalment, capped at £7,500.
Grant 5 (May 2021 – September 2021)
Eligibility: Same as Grant 4, but now amount is based on a turnover test.
Period Covered: 1 May 2021 – 30 September 2021
How to claim: Claims open until 30 September 2021
Amounts available: The amount available will be based on a ‘turnover test’ which is designed to only provide support to people who need it the most as the economy reopens.
People whose turnover has fallen by 30% or more will continue to receive the full grant of 80% of the average for 3 months’ trading profits capped at £7,500.
People whose turnover has fallen by less than 30% will receive a 30% grant, capped at £2,850.