Self-employment Income Support Scheme (SEISS) – CIOT and ATT webinar –Thursday 8 October 2020

By Technical Team on 25 Sep 2020

This webinar, which was broadcast live on Thursday 8 October 2020 provided a recap of the scheme and a look at what’s new.  

It covered what we know so far about the third and fourth grants which were announced by the Chancellor on 24 September 2020, as well as key dates for the second grant, who is eligible and who isn’t, what ‘adversely affected’ by coronavirus means, how to calculate the grants, how to claim the grants and compliance aspects. We also provided a round-up of other recent COVID-19 tax announcements including the Job Support Scheme, and VAT and income tax deferrals, and it was followed by a Q&A session.

⚠️This webinar was broadcast before the Chancellor’s statement on 5 November 2020 in which he announced an extension to the Coronavirus Job Retention Scheme (CJRS) until 31 March 2021 with the government paying 80% of wages for hours not worked, and employers only paying associated employer national insurance and pension contributions. The Job Support Scheme will not therefore come into effect. As a result of the CJRS being further extended, the Job Retention Bonus will not be paid in February. He also announced that, for the self-employed, the amount of profits covered by the third SEISS grant for the three month period November 2020 to January 2021 would be increased to 80%, meaning the maximum grant will be £7,500, with applications opening on 30 November 2020.

A recording of the webinar is available here:
Update on the Self-Employment Income Support Scheme & other recent COVID-19 tax announcements
CIOT and ATT webinar 8 October 2020

The slides are available here.

A link to the recording of our first webinar about the SEISS held on 7 May 2020 can be found here and a link to the recording of our second webinar about the scheme held on 7 July 2020 can be found here

Further information about the SEISS can be found on the CIOT’s dedicated COVID-19 pages here and the ATT pages here.

Posted in: Technical News