The Self-Employment Income Support Scheme (SEISS) is a government program in the United Kingdom that provides financial support to self-employed individuals and members of partnerships who have been affected by the economic disruption caused by the COVID-19 pandemic.
Under the SEISS, eligible individuals can claim a grant to cover a proportion of their lost income. The amount of the grant is based on their average monthly trading profits, and the government will pay a grant to cover 80% of three months' worth of average monthly trading profits, up to a maximum of £7,500 in total.
To be eligible for the SEISS, individuals must be self-employed or a member of a partnership, have submitted their self-assessment tax return for the tax year 2018-2019 and continue to trade, but are facing reduced demand due to the pandemic. Additionally, the individual must intend to continue to trade and must either have been impacted by reduced demand due to the pandemic or be currently unable to trade because of the pandemic.
The SEISS is designed to help self-employed individuals and members of partnerships who have been affected by the pandemic continue to support themselves and their families during this difficult time. The scheme has been extended multiple times to support self-employed throughout the pandemic and updates on the eligibility and claim process can be found on the HMRC website.