Self-Employment Income Support Scheme: last chance to claim fifth grant

Today, 30 September 2021, is the last day self-employed workers can apply for the fifth and final Self Employment Income Support Scheme (SEISS) grant.

Launched last year, the initiative supports freelancers, contractors and other self-employed workers who have been impacted by Covid-19 disruption.

Providing you meet the new eligibility requirements (such as the ‘turnover test’), you must make your claim on or before 30 September 2021.

The grant is equivalent to 80 per cent of three months’ average trading profits (up to a maximum £7,500) or 30 per cent of three months’ average trading profits (up to a maximum £2,850), depending on how much your turnover is down by.

The grant period spans 01 May to 30 September 2021.

Click here to make your claim.

For employers

October will also mark the end for the Coronavirus Job Retention Scheme (CJRS) and the coronavirus statutory sick pay rebate scheme. The deadline for claiming payments is 14 October and 31 December, respectively.

Employers who currently rely on the furlough scheme should assess how the end of the scheme will impact their financial health, such as cash flow.

Homebuyers

The Stamp Duty Land Tax (SDLT) holiday will end on 01 October 2021. The extended scheme increased the SDLT threshold (the amount after which SDLT is charged) to £500,000, before transitioning to the temporary rate of £250,000 on 01 July 2021.

Stamp duty will revert to the standard rate (£125,000) from October.

Get advice today

For help and advice with related matters, please get in touch with our team today.