Third SEISS grant opens as IPSE issues warning

30 Nov 2020

The third SEISS (Self-Employment Income Support Scheme) grant opens for applications today (30 November).

To qualify for SEISS grants, businesses must be adversely affected due to the coronavirus (COVID-19). They must either be currently trading but be impacted by reduced demand or have been trading but be temporarily unable to do so due to COVID-19. 

However, the Association of Independent Professionals and the Self-Employed (IPSE) has warned that the rules around the third grant are stricter and more complex than before.

The latest guidance on checking if you can claim a grant and new guidance on how trading conditions affect eligibility include an additional test. This requires the claimant to intend to continue to trade and reasonably believe there will be a significant reduction in their trading profits due to reduced activity, capacity or demand or inability to trade due to COVID-19.

Andy Chamberlain, Director of Policy at IPSE, said: 'We have called for a more focused distribution of SEISS and understand the efforts to target the funds at those most badly affected, but we are concerned these new rules are confusing and risk creating a climate of fear around applying.

'These complex rules may deter many self-employed from claiming support they need – and leave those who do always looking over their shoulder for fear of HMRC demanding the money back.'

Claimants can check their eligibility for the SEISS here.

icaew logo acca logo sage logo sageone logo bas xero

Home | Contact us | Accessibility | Disclaimer | Help | Site map | © 2021 Madisons. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Madisons is a trading name of Madison Business Services Limited Registered office: Bushbury House, 435 Wilmslow Road, Withington, Manchester, M20 4AF. Company Number: 03800186, VAT Registration Number: 741 1182 67 Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our Audit Registration can be viewed at www.auditregister.org.uk and www.cro.ie/auditors for Ireland under reference number C009016107.
Telephone: 0161 434 3535 | Fax: 0161 445 0430 | Email: enquiries@madisons.co.uk.

Address
Madisons, Bushbury House, 435 Wilmslow Road, Withington, Manchester, Lancashire M20 4AF