SEISS Closing Date for Third Applications

A quick reminder the Self-Employment Income Support Scheme (SEISS) will close to applications for the third grant at the end of this month, so claimants must make their claim for SEISS on or before January 29, 2021.

The third SEISS grant will cover November 2020 to January 2021, while the fourth grant will cover February to April 2021.

The third grant will be worth 80 percent of average monthly trading profits for the three-month period.

Similar to the first and second SEISS grants, the third SEISS grant will also be subject to Income Tax and self-employed National Insurance. Alongside the first and second grants, the third SEISS grant should be reported on your 2020/21 Self-Assessment tax returns (filing deadline 31‌‌‌ January‌‌ ‌2022).

If you also claim Universal Credit (UC), the Self-Employed Income Support Scheme grant should be reported to DWP in the month the grant is paid and may affect the amount of UC you receive. 

Finally, good news there is to be a fourth grant which covers February, March and April 2021 – and will likely be open from late February. (Details will follow once we know more.)