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SEISS contributions increase

In a similar vein to the CJRS extension, the Government will take further steps to help the self-employed by increasing the contribution under the SEISS from 55 per cent to 80 per cent over the next three months. 

This is the second time that the third round of SEISS grant funding has been increased after the scheme itself was extended for a further six months. 

Under the latest change, those eligible for the SEISS grant will be able to claim 80 per cent of three months’ average trading profits, paid out in a single instalment, which will be capped at £7,500.

HM Revenue & Customs (HMRC) has announced it will pay this more generous grant sooner than expected and “in good time for Christmas”. This is thanks to an earlier change, which brings the application period forward by two weeks so that people can submit their claim for the grant from 30 November.

The Government has already announced that there will be a fourth SEISS grant covering February to April. The Government will set out further details, including the level, of the fourth grant in due course.