When will the fourth self-employed grant open and who is eligible?

The Self-Employment Income Support Scheme (SEISS) was first launched in May to support those who are self-employed and have had a business that has been adversely affected by coronavirus.

In November, the government announced that the SEISS had been extended for a third time to continue to support the self-employed through the months ahead.

The scheme is provided further grants, each available for three months, to cover the periods of November 2020 to January 2021 and February 2021 to April 2021.

The first part of the grant came to a close on January 29 – so when will the fourth self-employment grant open, and who is eligible?

When can you apply for the fourth self-employed grant?

The fourth self-employment grant is due to be announced as a part of the spring budget, on March 3.

This means that details about the grant are under wraps for the time being, although it’s expected that it will be similar to the previous grants.

The first three grants were worth 80% of average monthly trading profits, capped at £7,500 in total.

Am I eligible for the self-employed grant?

To be eligible for the grant extension, the government state that self-employed individuals must:

• Have been previously eligible for the SEISS grants (although they do not have to have claimed)
• Declare that they intend to continue to trade and either:
  • Are currently actively trading but are impacted by reduced demand due to coronavirus
  • Were previously trading but are temporarily unable to do so due to coronavirus

How to apply for the self-employed grant

There’s still time to apply for the third grant, but you’ll have to move quickly.

The application process for each grant has remained the same.

To apply for the self-employed grant scheme you’ll need to visit tax.service.gov.uk.

Before claiming, make sure you have your National Insurance number, UK bank details and Self Assessment Unique Taxpayer Reference (UTR) to hand as you will be asked for these in the first few steps of the application. 

You will also need to have set up a Government Gateway user ID and password before you claim, which you can do on gov.uk. 

To claim, you just have to confirm to HMRC that you and your self-employed business have been adversely affected by coronavirus.

You should not claim the grant if you’re a limited company or operating a trade through a trust.

Follow Metro across our social channels, on Facebook, Twitter and Instagram.

Share your views in the comments below.

MORE : Rishi Sunak urged to extend furlough scheme to the summer