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NEWS: Support via the SEISS is increased

Since the announcement of the national lockdown in England from Thursday 5 November and the firebreak lockdown in Wales, the government have now confirmed that they will be increasing its support to the self-employed through the Self-Employement Income Support Scheme (SEISS) over the coming months. 

"To reflect the recent changes to the furlough scheme, the UK-wide Self-Employment Income Support Scheme (SEISS) will be made more generous – with self-employed individuals receiving 80% of their average trading profits for November.

And to ensure those who need support get it as soon as possible, payments will also be made more quickly with the claims window being brought forward from 14 December to 30 November.

...As SEISS grants are calculated over three months, the uplift for November to 80 per cent, along with the 40 per cent level of trading profits for December and January, increases the total level of the third grant to 55 per cent of trading profits. The maximum grant will increase to £5,160."

You can read the full press release here. We have updated our FAQs in the Coronavirus spotlight to reflect this information.