| UPDATED: 08:04, Sat, Feb 27, 2021
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Rishi Sunak will face intense scrutiny in the coming days as the next Budget is laid out. The Chancellor is expected by many to extend coronavirus themed support measures such as the furlough scheme and SEISS, with some calling for the fourth grants to address certain blind spots .
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Rishi Sunak began launching several coronavirus themed support measures in March 2020, which stretched from mortgage holidays to Universal Credit boosts and beyond. Eventually, the Chancellor introduced the Job Retention Scheme and the Self-Employment Income Support Scheme which provide income to eligible workers.
have been trading but are temporarily unable to do so due to coronavirus
You must also declare that:
you intend to continue to trade
you reasonably believe there will be a significant reduction in your trading profits
SEISS grant: Self Employment Income Support Scheme explained (Image: EXPRESS)
SEISS grant: Claimants be self-employed individuals or members of partnerships (Image: GETTY)
What is a significant reduction?
To be eligible for SEISS claimants must decide whether the impact on their business is enough to be classed as a significant reduction.
The Government website states: “HMRC cannot make this decision for you because your individual and wider business circumstances will need to be considered when deciding whether the reduction is significant.