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SEISS, or the Self Employment Income Support Scheme, was extended by Chancellor Rishi Sunak in his recent Budget, providing an important lifeline to millions of self-employed individuals. Mr Sunak also extended the terms of the scheme to allow, as the Government claims, an extra 600,000 people to potentially benefit from the scheme. Many will be keen to understand how the next self-employment grants will work and any steps they may need to take ahead of time.
| UPDATED: 14:27, Fri, Feb 5, 2021
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Millions of self-employed workers haven’t been eligible for the grant in the past, forcing them to dig deep just to survive. From performance artists and creative workers to taxi drivers and TV employees, thousands of professions come under the self-employed umbrella. While the Government has spent in excess of £13billion on the SEISS scheme since March – around twice as much as the cost of furlough – the help has been very poorly targeted.
| UPDATED: 07:47, Wed, Feb 3, 2021
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The SEISS fourth grant has already been confirmed after the scheme was extended three times, with details of the programme expected in Chancellor Rishi Sunak’s upcoming Budget on Wednesday, March 3. The period of time for the fourth grant will count self-employed worker’s earnings from February to April 2021, meaning the cover has been in place for the vast majority of the 2020/2021 tax year. But while the scheme has undoubtedly saved some people’s lives amid their businesses being forced to stop trading, thousands have been left without
| UPDATED: 07:06, Mon, Feb 1, 2021
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The SEISS grant has already been extended three times after it was originally introduced in April 2020 in response to the ongoing coronavirus pandemic. The fourth grant has already been announced and will cover the period from February until April 2021. But while self-employed business owners and workers were hoping for more details on the upcoming grant in the near future, the Treasury and Chancellor Rishi Sunak have failed to deliver.
| UPDATED: 13:54, Tue, Feb 23, 2021
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SEISS provides a lump sum of money up to a maximum of £7,500 to cover 80 percent of average trading profits, and was introduced by Chancellor Rishi Sunak at the start of the coronavirus pandemic in March last year. As it stands, eligible self employed workers will get two more grants as part of the Treasury’s Winter Economy Plan, which will come as good news to millions who were anticipating a cliff-edge drop to their financials support. The third grant opened for applications on November 30, and there will be a fourth grant covering the