Orkney and Shetland MP, Alistair Carmichael, has called on all eligible self-employed workers in the isles to make sure that they apply for funds from the fifth and (expected) final round of the Self-Employed Income Support Scheme (SEISS). The fifth round of funding, covering May to September 2021, opens this week and will aim to replace a portion of profits lost due to the coronavirus pandemic.
Unlike earlier SEISS grants, the grant takes into account 2019/20 tax returns and is open to those who became self-employed in the 2019/20 tax year. The size of the grant is determined, in part, by the amount a claimant’s turnover has reduced in the year April 2020 to April 2021. The grant is worth:
- 80% of three months’ average trading profits, capped at £7,500, for those with a turnover reduction of 30% or more
- 30% of three months’ average trading profits, capped at £2,850, for those with a turnover reduction of less than 30%.
Just over 1.95 million claims were made for the previous (fourth round) grant, at a total cost of £5.5 billion.
Mr Carmichael said:
“All indications so far are that this round of self-employed income support will be the last – with that in mind it is vital that everyone who is eligible gets their application in on time. If you are having any difficulties in applying for funding please do not hesitate to contact my office.
“While there have been persistent concerns about the gaps in support for people through the pandemic – which have never been fully addressed – SEISS has been an important source of income for many self-employed people in the isles. It was inevitable that this support would have to end at some point but we have to do everything we can to ensure that small businesses and workers can land on their feet as we move forward.”