The second stage of Self Employment Income Support Scheme (SEISS) opens for applications today (August 17).
Those eligible will receive a government grant worth up to £6,570. Some 2.7 million benefited from the first stage of the SEISS – with the government handing out £7.8 billion of grants to help them through the crisis.
Those eligible will now be able to receive a second and final grant worth 70% of their average monthly trading profits, with the money set to land in their bank accounts within six working days of making a claim.
Anyone whose self-employed business has been adversely affected by coronavirus since 14 July is eligible for the scheme.
Chancellor of the Exchequer Rishi Sunak said:”Our self employment income support scheme has already helped millions of hard working people, whose get up and go drive is crucial to our economy.
“It means that people’s livelihoods across the country will remain protected as we continue our economic recovery – helping them get back on their feet as we return to normal.”
HMRC will contact all potentially eligible customers to advise them that they can claim for a second and final SEISS grant.
The eligibility criteria remains the same as for the first grant, with people needing to have had trading profits of no more than £50,000, making up at least half of their total income.
Guidance on how the grant works can be found here.
Eligible customers will be informed that they will be able to make their claim for the second and final grant at any time from a specified date, until the scheme closes on October 19.