This evening (Friday 29 May 2020), the chancellor confirmed that the SEISS (Self Employment Income Support Scheme) would be extended to cover the period of 1 June 2020 – 31 August 2020.
The original scheme which launched earlier this month, covered the period of 1 March 2020 – 31 May 2020, and was a grant of up to 80% of self employed profits up to a monthly maximum of £2,500 (£7,500 in total). The grant is payable based on average profits over the previous 3 financial years.
This extension is designed to cover the period of June, July and August. Applications will open in August 2020, follow the same process, and be based on the same criteria as before.
With this extension, the grant will instead cover up to 70% of profits, to an overall maximum of £6,570 (or £2,190) per month.
There will be no further extension of the scheme.