Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if the Self-Employment Income Support Scheme will cover financial support for the transitionary periods (September and October 2020) between its first and second rounds of grant support.

The Self Employment Income Support Scheme (SEISS) grants provide a lump sum payment based on three months’ worth of profits in order to support eligible self-employed individuals. The first SEISS grant was open for applications from 13 May until 13 July and the second was open for applications from 17 August until 19 October.

The Government has announced that it will provide further taxable grants through the SEISS Grant Extension. The third grant will cover 55% of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £5,160 in total. This grant will be increased from the previously announced level of 40% of trading profits to 80% for November 2020. This therefore increases the total level of the grant from 40% to 55% of trading profits for 1 November 2020 to 31 January 2020. The fourth grant will cover a three-month period from 1 February 2021 until 30 April 2021. The Government will review the level of the fourth grant and set this in due course.

For those who require more support, the SEISS continues to be just one element of a comprehensive package of support for individuals and businesses. This package includes Bounce Back loans, tax deferrals, rental support,?increased levels of Universal Credit, mortgage holidays, and other business support grants.