The Association of Independent Professionals and the Self-Employed (IPSE) has said many are still struggling, despite the Budget offering a “hopeful vision”.
In the Spring Budget 2021, Chancellor Rishi Sunak announced the extension of the self-employment income support scheme (SEISS) until the end of October.
The fourth SEISS grant, which was announced by Sunak, will cover the period between February 2021 and April 2021.
The grant will now take into account tax returns for the tax year of 2019/20 for the first time, and pay 80% of the three months’ average trading profits up to £7,500.
Derek Cribb, chief executive of IPSE, said after the “severe and disproportionate” financial impact of the coronavirus pandemic on self-employed individuals, the Budget is welcomed.
“After almost a year, this support will be a tremendous relief to hundreds of thousands of self-employed people who could not access SEISS because they had not yet filed a full tax return. We are delighted that the Government has heeded our calls to get support to this struggling group.
“While this support is welcome, however, we also urge the Chancellor to look again at groups such as limited company directors, who are still excluded from SEISS.”
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