Date14 Aug 2020
CategoryTax, Employer Solutions
As announced by the Chancellor on 29 May, the SEISS would be extended with a second tranche of money available from August for those businesses who have been ‘adversely affected’ by the COVID-19 pandemic on or after 14 July 2020.
There is no strict definition for being ‘adversely affected’, however HM Revenue and Customs (HMRC) have offered updated guidance which you can check here.
HMRC’s updated guidance also provides further clarification on amended rules for new parents and reservists. The other conditions to qualify for the second grant remain the same as for the first SEISS grant. The GOV.UK website outlines in further detail whether you can qualify and consequently use this scheme to claim a grant.
The amount of the grant will be calculated at 70% of your annual average profits, capped at £2,190 per month, and payable for three months. As with the first SEISS grant, you will not be required to enter any figures to HMRC – they will calculate the grant from their records. As before, HMRC will contact you if you are eligible.
Applications for the second grant are anticipated to be open from 17 August 2020. Applications are most likely available on a staged basis, as with the first grant, and will close on 19 October 2020.
To make a claim you will need to have your Unique Taxpayer Reference (UTR) Number, National Insurance (NI) Number, Government Gateway (ID) and details of the bank account you want the money paid into.
Due to the way the grant is being dealt with by HMRC (i.e. through your personal HMRC gateway account), unfortunately we are unable to process this claim on your behalf. However, we can help you with any queries you may have. Please do not hesitate to contact us if you need any assistance.
Should you have any further queries regarding the SEISS grant or would like to discuss the support available in more detail, please get in touch with your usual Azets contact.
Please also refer to our insights page for further COVID-19 related information, which is regularly updated with the latest news, insight and details of the economic support and measures as they are announced by our Government.