This week the Chancellor announced that the UK Government is increasing the overall level of the next SEISS grant from 55% to 80% of trading profits. This is in line with he further changes announced to the CJRS.
This grant will cover a three-month period from the start of November until the end of January. The UK Government will pay a taxable grant which is based on 80% of three months’ average trading profits, paid out in a single instalment and capped at £7,500.
The SEISS
Grant Extension will last for six months in total, from the 1st of
November 2020 to the 30th of April 2021. A further grant will cover
February to April, as grants will be paid in two lump sum instalments each
covering a three-month period. The Government will set out further details,
including the level of that grant, in due course.
Full details on checking if your clients are eligible for the current grant and
how to claim will be published on GOV.UK in week commencing the 23rd
of November.
