Reports suggest self-employed workers will get maximum £7,500 fourth SEISS grant

Image credit: HM Treasury (Flickr) CC2.0

Reports are suggesting that the Chancellor will continue to pay out Self-Employment Income Support Scheme (SEISS) grants worth up to £7,500, as speculation mounts a week before the much anticipated Chancellor’s Budget.

Details of the fourth vital payment being given to self-employed workers financially impacted by the coronavirus pandemic, will be announced by the Chancellor of the Exchequer Rishi Sunak at the Budget scheduled for 3 March.

The fourth round of payments will cover February, March and April. There are also reports that the scheme could be dropped from May as COVID restriction measures begin to be eased.

Self-employed workers, which includes tens of thousands of taxi drivers, were able to claim their third Self-Employed Income Support Scheme (SEISS) grant from 30 November and had until 29 January 2021 to make the claim.

Support for millions of workers through the third SEISS grant covered November to January and was calculated at 80% of average trading profits, up to a maximum of £7,500.

Struggling self-employed workers have had one eye on a confirmed fourth SEISS grant covering February 2021 to April 2021 since the last grant closed. According to reports from The Telegraph workers can expect a similar package valued at 80% of average trading profits, up to a maximum of £7,500.

According to the Government website ‘details about the fourth grant will be announced on 3 March 2021’.

On Monday, the Prime Minister announced the Government’s roadmap to cautiously ease lockdown restrictions in England.

In the statement to parliament he paid tribute to the success of the UK’s vaccination programme and the resolve of the British public in following the lockdown restrictions, which has helped to cut infection rates and reduce the spread of the virus.

The roadmap, which has been published on gov.uk, outlines the four steps for easing restrictions. Ongoing worker and business support is expected to follow these four steps.