Spring Budget 2021: Self-employment grants extended to September

Summer grant subject to “turnover test”

James Baxter-Derrington
clock • 1 min read

The Self-Employment Income Support Scheme (SEISS) is set to continue through to the end of September in the form of a fourth and fifth grant, Chancellor Rishi Sunak has announced in the Spring Budget 2021.

SEISS' fourth grant may be available to 600,000 people more than the third grant, with individuals having to file a 2019-20 Self Assessment tax return to be eligible for this grant, offering the potential for the newly self-employed to qualify. Available from late April, it will be worth 80% of three months' average trading profits, paid out in a single instalment and capped at £7,500 in total, covering the period February to April. A fifth and final SEISS grant will cover the period May to September, with the value of grant determined by a "turnover test" to "ensure that support is t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Don't panic! Call for calm after Budget pensions IHT change

Don't panic! Call for calm after Budget pensions IHT change

Lisa Webster calls for a calm response to the IHT changes announced in the Budget earlier this month...

Lisa Webster
clock 14 November 2024 • 3 min read
Effectiveness of Labour's immediate CGT hike under question

Effectiveness of Labour's immediate CGT hike under question

CGT rates were raised in last Wednesday’s Budget

Jen Frost
clock 06 November 2024 • 2 min read
Labour's tax clampdown sparks fraud investigations 'spike' warning

Labour's tax clampdown sparks fraud investigations 'spike' warning

High-income individuals could look to ‘illegal tactics’, crime specialist says

Jen Frost
clock 31 October 2024 • 2 min read