• Two key dates for the CJRS and SEISS are approaching
  • The deadline for final CJRS claims has also been set

Self-Employed Income Support Scheme: Second grant deadline – October 19

Claims for the second SEISS grant must be made on or before October 19, 2020 and must be made by the taxpayer. Grants are paid within six working days of the claim being submitted.

The 2nd taxable grant is worth 70% of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £6,570 in total. The grants are subject to income tax and self-employment national insurance contributions in the 2020/21 tax year.

Self-employed individuals and members of a partnership are eligible where the taxpayer:

  • Submitted their self assessment tax return for the tax year 2018/19 by April 23, 2020
  • Traded in the tax year 2019/20
  • Intends to continue to trade in the tax year 2020/21
  • Carries on a trade which has been adversely affected by coronavirus

Overclaimed CJRS and SEISS grants

If employers or taxpayers have claimed too much for a CJRS or SEISS grant and have not repaid it, they must notify HMRC and repay the money as part of their next online claim by the latest of whichever date applies below:

  • By October 20, 2020
  • 90 days after the date you received the grant you were not entitled to
  • 90 days after the date you received the grant that you were no longer entitled to keep because your circumstances changed

The deadline for notifying many grants falls on October 20 – which is the 90 day deadline from Royal Assent being given to Finance Act 2020.

Deadline for claiming CJRS grants

The CJRS finishes on October 31, 2020 and all claims must be made by November 30, 2020.

It will then be replaced by the Job Support Scheme, which will run for six months, beginning in November, and support people in viable jobs working at least a third of their normal hours.