Increased support made available for the self employed

The government has increased the support available to self-employed workers and extended its emergency business loan schemes as the UK heads for a second national lockdown.

On 5 November Rishi Sunak announced an increase  in the level of the third instalment of the Self-employment Income Support Scheme (SEISS) from 55% to 80% of average trading profits for November to January. SEISS grants are calculated over three months and the uplift for November to January, increases the level of the third grant to 80% of trading profits. The maximum grant will be capped at £7,500.

The SEISS grants will also be paid faster than previously planned, with the claims window opening at the end of November rather than the middle of December.

Chancellor Rishi Sunak said:

'The rapidly changing health picture has meant we have had to act in order to protect people's lives and I know this is an incredibly worrying time for the self-employed. That is why we have increased the generosity of the third grant, ensuring those who cannot trade or are facing decreased demand are able to get through the months ahead.'

Internet link: GOV.UK SEISS grant extension

Xero Kashflow Quickbooks Sage Online

Ipswich: 01473 851605

Walton-on-the-Naze: 01255 678910

Home | Accreditation | Contact us | Site map | Accessibility | Disclaimer | Help | powered by totalSOLUTION

Simply Accounts & Tax Limited, Epsilon House, Ransomes Europark, Ipswich, Suffolk IP3 9FJ
Simply Accounts & Tax Limited, The Accounting House, 41 High Street, Walton-on-the-Naze, Essex CO14 8BG

Registered as auditors in the United Kingdom by the Association of Chartered Certified Accountants

© 2020 Simply Accounts & Tax Limited. All rights reserved. We use cookies on this website, you can find more information about cookies here.