Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed.
The second stage of the Self Employment Income Support Scheme (SEISS) is now open, and applications must be submitted before the deadline on Monday 19 October 2020.
Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed.
There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements, with many being amended, delayed or deferred over the past few months.
The Self-Employment Income Support Scheme (SEISS) is now open for business, weeks ahead of schedule.