SEISS grant: when to claim the third instalment of self-employed grant – plus new eligibility rules and how to apply through HMRC

Self-employed people adversely affected by coronavirus can claim a taxable grant

Rishi Sunak announced the extension of the SEISS scheme in June (Getty Images)
Rishi Sunak announced the extension of the SEISS scheme in June (Getty Images)

The Self-Employed Income Support Scheme grant will soon open for applications.

The grant extension was announced by Chancellor of the Exchequer Rishi Sunak.

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Speaking in October, he said: “I’ve always said that we must be ready to adapt our financial support as the situation evolves, and that is what we are doing today.

“These changes mean that our support will reach many more people and protect many more jobs.

“I know that the introduction of further restrictions has left many people worried for themselves, their families and their communities.

“I hope the Government’s stepped-up support can be part of the country pulling together in the coming months.”

When does the scheme open for applications?

The third grant is open for application on November 30.

How to claim

The online service will be made available on November 30 at gov.uk

You must make your claim on or before 29 January 2021.

You should contact HMRC if you receive any suspicious texts, calls or emails claiming to be from HMRC as this may be a scam.

How does the grant extension work?

The third taxable grant is worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.

The grants are taxable income and also subject to National Insurance contributions.

Who’s entitled to the scheme?

To make a claim for the third grant your business must have had a new or continuing impact from coronavirus between 1 November 2020 and 29 January 2021, which you reasonably believe will have a significant reduction in your profits.