On 9 April 2021, HM Treasury issued a further Treasury direction under sections 71 and 76 of the Coronavirus Act 2020, modifying and extending the terms of the Self-Employment Income Support Scheme (SEISS) in line with the Spring 2021 Budget. In particular, it allows for claims for the fourth SEISS grant (SEISS 4) to be submitted on or before 1 June 2021, in respect of the period between 1 February 2021 and 30 April 2021. Applications for SEISS will open from late April 2021.
SEISS 4 can cover 80% of average monthly trading profits, paid out in a single instalment covering three months' worth of profits and is capped at £7,500 in total. A fifth grant covering the period from May to September 2021 can be claimed from late July 2021. The amount of the grant will be determined by a turnover test.
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