Updated: Nov 1, 2020
Self-Employed workers will be able to apply for their third coronavirus support grant before the start of the Christmas period according to HMRC sources.
Taxi drivers and other self-employed workers effected by the coronavirus pandemic last received government support back in August as part of their second SEISS payment application.
Those eligible for the next grant can apply online from 14 December. HMRC will provide full details about the claiming process and applications in due course.
This month the Government announced an increase in the size of grant Self-Employed workers can claim. The claim will now jump from 20 percent of average profits to 40 percent, meaning the maximum grant will increase from £1,875 to £3,750 respectively.
It will be available to anyone who was previously eligible for the SEISS grant one and grant two, and meets the eligibility criteria.
This grant will cover a three-month period from the start of November 2020 until the end of January 2021. The Government will pay a taxable grant which is calculated based on 40% of three months’ average trading profits, paid out in a single instalment and capped at £3,750.
A second extended grant will cover a three-month period from the start of February until the end of April 2021. The Government will review the level of the second grant and set this in due course.
During the original SEISS scheme, applications for the very first grant opened on 13 May which represented the March, April and May time period. That grant was worth 80% of the claimants average monthly trading profits, double the value of the next grant agreed by government, and was paid out in a single instalment covering three months’ worth of profits, and capped at £7,500 in total. The second SEISS payment application opened three months on from the first, on 17 August.