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Self Employed Income Support Scheme increased

In his earlier Winter Economy Plan, the Chancellor had confirmed that the Self-Employed Income Support Scheme (SEISS) would be extended into 2021 with the payment of two new taxable grants. 

He has now confirmed that the first of the extended grants, which will cover the three months from November to January will increase from 20 per cent of previous trading profits, capped at £1,875 to 40 per cent of previous trading profits capped at £3,750.

The second of the new SEISS grants will cover three months from the start of February until the end of April 2021. The level of the second grant will be set by the Government in due course.