The second round of the Self-Employment Income Support Scheme (SEISS), which is worth 70 per cent of three months’ average trading profits, capped at £6,570, opened on Monday 17 August 2020.
You can claim for the SEISS if you are a self-employed individual or a member of a partnership and all of the following apply:
- You are carrying on a trade that has been adversely affected by Coronavirus;
- You traded in the tax year 2018-2019 and submitted a Self-Assessment tax return on or before 23 April 2020 for that year;
- You traded in the tax year 2019-2020;
- You intended to continue to trade in the tax year 2020-2021;
- You have trading profits of less than £50,000 and more than half of your total income comes from self-employment. This can be with reference to at least one of the following conditions:
- Trading profits and total income in 2018-19
- Average trading profits and total income across up to the three years between 2016-17, 2017-18, and 2018-19.
The scheme is not available to people working through their own limited companies.