Third grant for the self-employed increases to 80% for november

November 2020

The self-employed can claim Government support of up to 80% of profits during the initial month-long lockdown in England, Chancellor Rishi Sunak has confirmed.

Like previous tranches, the third taxable grant available through the self-employed income support scheme (SEISS) covers three months – from 1 November 2020 to 31 January 2021.

The latest tranche was initially due to only cover 40% of a claimant’s average monthly trading profits up to £3,750 in total. This would have been a vast reduction on the previous grants, which covered 80% and 70% of total average trading profits up to £7,500 and £6,570 respectively.

It will now cover 80% of trading profits for November 2020, before reverting back to 40% for December 2020 and January 2021 – if lockdown in England ends on 2 December 2020.

Including the new higher November grant, it means the third taxable SEISS grant will cover 55% of profits, up to a maximum of £5,160 intotal.

It is only available to self-employed individuals who were eligible for the previous payments. The Government said third-tranche payments will be made more quickly, with the claims window being brought forward from 14 December 2020 to 30 November 2020.

Businesses can also continue to apply to banks for state-backed support loans until 31 January 2021, compared to a previous 30 November deadline for some of the schemes.

Speak to us about the SEISS.
Business news
Finsbury Robinson

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare.

Contact Us
Recent News

No items found.

See All News

Sign up to our
Monthly Business Newsletter

Sign up to receive our monthly Business Newsletter that will keep you up to date with everything going on in accounting, tax, and finance. 

Finsbury Robinson Services
R&D Tax
Has your company undertaken
any R&D related activities?
Find OUt More
Affected by the
Let Property Campaign?
Find OUt More
Check out our fixed price
Accounting and Business Packages
Find OUt More
Free Book-keeping
Software for all Clients
Find OUt More
Free Auto Enrolment Pensions Advice
Calculate your Contribution!
Find OUt More
Are you aware of the Capital Gains Tax Changes coming?
GDPR Compliance
Find OUt More

Sign up to our Monthly Business Newsletter

Find News Articles by Category

News HomeCovid-19
Third grant for the self-employed increases to 80% for november
To get in touch use our Quick Contact Bar:

Monday                 8:30AM – 5:30PM
Tuesday                8:30AM – 5:30PM
Wednesday          8:30AM – 5:30PM
Thursday              8:30AM – 5:30PM
Friday                 9:00AM – 12:30PM
Saturday                                 Closed
Sunday                                   Closed

Finsbury Robinson
237 Westcombe Hill