{"id":2355,"date":"2020-12-02T17:06:47","date_gmt":"2020-12-02T17:06:47","guid":{"rendered":"https:\/\/kirkwoodwilson.co.uk\/?p=2355"},"modified":"2020-12-02T17:06:47","modified_gmt":"2020-12-02T17:06:47","slug":"an-update-for-self-employed-people","status":"publish","type":"post","link":"https:\/\/kirkwoodwilson.co.uk\/an-update-for-self-employed-people\/","title":{"rendered":"An update for self-employed people from Kirkwood Wilson"},"content":{"rendered":"

Please note, this article is applicable to self-employed people only. If you trade through a Limited company you cannot claim this grant. However, you may know people for whom this may be relevant. Here at Kirkwood Wilson<\/a>, we want to keep you fully updated on all coronavirus support schemes.<\/em><\/p>\n

The UK Government has extended the support available under the Self-Employment Income Support Scheme (SEISS) for self-employed people affected by coronavirus (COVID-19).\u00a0A third grant will cover the period from 1\u200c\u200c \u200cNovember 2020 to 29\u200c\u200c \u200cJanuary 2021. If you\u2019re eligible, you\u2019ll be able to claim the third grant at any time from 4\u200c\u200c \u200cDecember 2020 to 29\u200c\u200c \u200cJanuary 2021.<\/p>\n

The rules on who is eligible to claim are different to those for the previous SEISS grants. However, you still need to have submitted a Self Assessment tax return for the tax year 2018 to 2019 showing self-employment income in order to claim (unless one of the existing exceptions applies)<\/strong>.<\/p>\n

This article informs you all about claiming the third grant. A fourth grant will also be available from February 2021 to April 2021. We\u2019ll tell you more about that nearer the time, including how much it will be and the rules for claiming.<\/p>\n

How much is the third grant?<\/h2>\n

The third grant will be based on 80% of three months\u2019 average trading profits, paid out in a single taxable instalment capped at \u00a37,500.<\/p>\n

Am I eligible to claim?<\/h2>\n

To make a claim for the third grant, you must meet a number of conditions, and make an honest assessment about whether you reasonably believe your trading profits will be significantly reduced due to coronavirus.<\/p>\n

As previously, the third grant will also be subject to Income Tax and self-employed National Insurance and must also be reported on 2020 to 2021 Self Assessment tax returns.<\/p>\n

As before, to make a claim for the third grant, you must:<\/p>\n