The third SEISS grant to support self-employed people affected by coronavirus is now open.
The rules on who is eligible to claim are different to those for the previous SEISS grants.
However, a 2018/19 SATR showing self-employment income (unless one of the existing exceptions applies) will still need to have been submitted in order to claim.
The third grant will be based on 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500, and will cover the period from 1 November to 29 January 2021.
Self-employed people who are eligible will be able to claim the third grant at any time from 30 November 2020 to 29 January 2021.
As previously, the third grant will also be subject to Income Tax and self-employed National Insurance and must be reported on the 2020/21 SATR, due by 31 January 2022.
Conditions for claim
You must:
be self-employed or a member of a partnership.
the grant cannot be claimed if trading through a limited company or a trust.
have traded in both the tax years 2018 to 2019 and 2019 to 2020.
either be currently trading but are impacted by:
reduced business activity, capacity or demand.
or have been previously trading but are temporarily unable to do so due to coronavirus.
declare intention to continue to trade, or restart trading and reasonably believe that the impact on business will cause a significant reduction in your trading profits.
only claim if the reduction in profits is caused by reduced business activity, capacity or demand, or inability to trade due to coronavirus.
Important Details
When deciding whether the reduction is significant, you will need to consider their wider business circumstances.
Your business must have been impacted on or after 1 November 2020.
You must keep evidence that shows how your business has been impacted by coronavirus, resulting in reduced activity, capacity or demand, or a temporary inability to trade.
HMRC Resources
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