Chancellor Rishi Sunak announced further economic support for workers and self-employed people going forward due to the coronavirus pandemic. The Self-Employment Income Support Scheme (SEISS) is being extended until April 2021. Read on for information on eligibility and how to claim for SEISS.
Mr Sunak’s Winter Economy Plan has been met with praise by some, and criticism from those who say the support doesn’t go far enough to help the self-employed.
In reaction to the Chancellor’s Winter Economy Plan, Jonathan Richards, CEO and founder of Breathe, a HR software platform who work with 8,000 SME’s, told Express.co.uk: “It’s likely that small businesses across the UK are breathing a sigh of relief following the Chancellor’s latest announcement.
“For hospitality venues who face reduced opening hours over the next few months, supporting staff wages and being able to take advantage of the extended VAT reduction is welcome support.
“However, as the Government’s support only covers ‘viable jobs’, thousands still face redundancy.
“Supporting these people and businesses, particularly those who are self-employed, through the winter and beyond is critical as the coronavirus situation changes.”
For example, the terms of the scheme mean the newly self-employed are not entitled to grants.
The scheme also does not apply to people who trade through a limited company or trust.
Joanne Harris, technical commercial manager at SJD Accountancy, told Express.co.uk: “The announcements from the Chancellor were an opportunity for the Government to offer help to those that it has failed to support so far, including small owner-managed limited companies, contractors and freelancers who have been excluded from the various support schemes so far.
“Whilst the option to spread deferred VAT and self-assessment payments over a year is welcome and some may benefit from the changes to the Bounce Back Loan scheme, these latest measures and incentives to boost business morale again offer very little in reality for the UK’s contingent workforce.
“It’s disappointing to see that once again, hundreds of thousands of workers – who all play a vital role in the UK economy – have simply been left behind.”
How to claim the Self-Employment Income Support Scheme grant
Applications for the second grant under the Self-Employment Income Support Scheme are still open.
To claim for the second grant, you need to make your claim on or before October 19, 2020.
Applications are not yet open for the SEISS extension.
HMRC will provide updated details about how to apply for the next SEISS grant under the extension in due course.