Starting in August 2020, the UK government will reopen the Self-Employed Income Support Scheme (SEISS) to provide further financial assistance for self-employed individuals.
Until 13 July, individuals can still apply for the first grant, which offers a taxable payment worth 80% of their average monthly trading profits. The grant is paid in a single instalment, and most eligible applicants receive their payment within six working days.
In August 2020, applications for the second grant will open. Eligible individuals will be able to claim a taxable grant worth 70% of their average monthly trading profits, paid as a single instalment covering three months, up to a maximum of £6,570 in total.
The eligibility criteria remain the same for both grants, and individuals must confirm that their business has been adversely affected by coronavirus (COVID-19).
Applicants do not need to have claimed the first grant to be eligible for the second one –
for example, their business may have been affected by COVID-19 at a later stage.
Further information on the second grant was to be published by HMRC on Friday, 12 June 2020.