What is the Self-Employment Income Support Scheme (SEISS)?
Definition of Self-Employment Income Support Scheme
The Self-Employment Income Support Scheme was a temporary initiative that aimed to provide financial support to self-employed people whose businesses were affected by the coronavirus (Covid-19) pandemic.
How the scheme worked
The Self-Employment Income Support Scheme (SEISS) was announced in March 2020 by Chancellor Rishi Sunak. It was initially extended on 24th September 2020 and then extended again on 5th November 2020 and 3rd March 2021. Only sole traders and partners were eligible for the scheme.
The SEISS initially enabled businesses that were affected by the coronavirus crisis between March and October 2020 to claim two taxable grants. Extensions to the scheme made three additional taxable grant payments available for businesses affected by the coronavirus crisis between November 2020 and September 2021.
A summary of the five grants offered through the Self-Employment Income Support Scheme can be found in the table below:
|SEISS grant||For businesses affected by Covid-19 during:||Grant application window||% of trading profits covered||Maximum grant available|
|Grant 1||1st March - 13th July 2020||13th May - 13th July 2020||80%||£7,500|
|Grant 2||14th July - 19th October 2020||17th August - 19th October 2020||70%||£6,570|
|Grant 3||1st November 2020 - 29th January 2021||30th November 2020 - 29th January 2021||80%||£7,500|
|Grant 4||1st February - 30th April 2021||Late April - 1st June 2021||80%||£7,500|
|Grant 5||1st May - 30th September 2021||Late July - 30th September 2021||30% or 80%||£2,850 or £7,500|
You can find out more about the support available for small businesses during the coronavirus pandemic on our small business coronavirus support hub.