First round of SEISS grants to end next week
Applications for the first round of the Government's self-employed income support scheme (SEISS) close in little over a week.
Self-employed people who have been impacted by COVID-19 have until 13 July 2020 to claim the first grant.
As of 28 June 2020, around 2.6 million registered self-employed individuals had claimed their slice of £7.7 billion paid out since May.
The cap on the first round of taxable lump sums is 80% of trading profits, up to a maximum of £7,500.
Victoria Todd, head of the Low Incomes Tax Reform Group, said:
"The self-employed, and individual partners trading in partnerships, whose businesses have been adversely affected by COVID-19 but who are yet to claim the first SEISS grant, should check urgently whether they are eligible.
"It is unfortunate if potential claimants miss out because they did not realise there was a deadline or because they were unsure if they could claim."
From 1 August 2020, workers will be able to make a second and final claim of up to £6,750.
This lump sum will be worth 70% of their average monthly trading profits, which is 10% less than previous instalments.
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