Self-employment Income Support Scheme

Treasury written question – answered on 11th January 2021.

Alert me about debates like this

Photo of Bridget Phillipson Bridget Phillipson Shadow Chief Secretary to the Treasury

To ask the Chancellor of the Exchequer, what assessment he made of the potential merits of the second, third and fourth grants under the Self Employment Income Support Scheme to have a ceiling for the amount of support received, rather than a ceiling for eligibility for support, similar to the model of the Coronavirus Job Retention Support Scheme.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

The eligibility criteria for the Self-Employment Income Support Scheme (SEISS) grants have been designed to target support at self-employed people who most need it and who are most reliant on their self-employment income. In addition, the first three SEISS grants have a cap on the amount of support it is possible to receive.

The first SEISS grant was a taxable grant calculated at 80 per cent of three months’ average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. The second SEISS grant was a taxable grant calculated at 70 per cent of three months’ average monthly trading profits, paid out in a single instalment and capped at £6,570 in total. The third SEISS grant is a taxable grant calculated at 80 per cent of three months’ average monthly trading profits, paid out in a single instalment and capped at £7,500 in total.

There will be a fourth SEISS grant covering February to April 2021. The Government will set out further details in due course.

Does this answer the above question?

Yes1 person thinks so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.