Insights
Insights 24.6.20 Author: Martina Fitzgerald

Eligibility for the Self Employed Income Support Scheme (SEISS) Expanded

Insights 24.06.2020 Author: Martina Fitzgerald

Eligibility for the Self Employed Income Support Scheme (SEISS) has been expanded to include individuals who became new parents in the tax year ended 5 April 2019. The change means that parents, including those who adopted children, who took time away from their business to care for their child within the first 12 months of birth, or within 12 months of an adoption placement, will now be able to use their 2017/18, or both of their 2016/17 and 2017/18 self-assessment tax returns as proof of eligibility for SEISS.

All other eligibility criteria will still have to be satisfied in order to receive financial support under the scheme, which includes the following:

  • Having submitted their self-assessment tax return for the year ended 5 April 2019 on or before 23 April 2020
  • Traded in the two tax years ended 5 April 2020
  • Are currently trading or would be if it were not for COVID-19
  • Intend to continue to trade in the current tax year ending 5 April 2021

Applications for the first grant under the scheme, i.e. 80% of average trading profits capped to a maximum of £7,500, opened on 13 May and will close on 13 July.

Applications for the second grant under the scheme, i.e. 70% of average trading profits capped at a maximum of £6,570, will open in August 2020 with further guidance due at  the beginning of July.

Please click here to view our step by step guide to checking your eligibility and how to make a claim.

What Next

Please contact our tax team, if you have any questions regarding SEISS or any other issues. You can keep up to date with the latest Coronavirus support on our COVID-19 page.