The government has announced that they are increasing the overall level of the Self-Employment Income Support grant to 80% of trading profits, covering November to January for all parts of the UK.

How much will the grant be?

  • Self-employed individuals can claim 80% of their trading profits for November to January;
  • The grant is calculated based on 80% of 3 months’ average trading profits, paid out in a single instalment;
  • The increases the maximum grant available to £7,500; and
  • The grant is subject to National Insurance contributions.

What are the eligibility criteria?

​Eligibility criteria is different from the first two grants, whereby you could make a claim if your business had been adversely affected by coronavirus. To be eligible to claim for the third grant, self-employed traders needs to show that their business is facing reduced demand due to coronavirus.

To be eligible for the grant extension, self-employed individuals, including members of partnerships must:

  • Have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants);
  • Declare that they intend to continue to trade; and either
  • Are currently actively trading but are impacted by reduced demand due to coronavirus; or
  • Were previously trading but are temporarily unable to do so due to coronavirus.

When can claims be made?

  • The claims window will now open from 30 November, rather than 14 December, to enable grants to be paid faster than previously planned.

An additional Self-Employment Income Support Scheme grant will run from February 2021 to April 2021. The government will review the level of this grant in due course.