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SEISS: Fourth and fifth grant available but tax implications to bear in mind | Personal Finance | Finance

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SEISS, or the Self Employment Income Support Scheme, was extended by Chancellor Rishi Sunak in his recent Budget, providing an important lifeline to millions of self-employed individuals. Mr Sunak also extended the terms of the scheme to allow, as the Government claims, an extra 600,000 people to potentially benefit from the scheme. Many will be keen to understand how the next self-employment grants will work and any steps they may need to take ahead of time.

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SEISS grant 5: Will there be a fifth self-employed grant?

SEISS grant four will soon open for applications on the Government website, but will there also be a fifth self-employed grant available in the future?

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SEISS extension: Grant 5 announced by Rishi Sunak during UK Budget statement | Personal Finance | Finance

SEISS grants have been a lifeline for millions during the coronavirus pandemic, and today, Chancellor of the Exchequer Rishi Sunak has announced an extension to the scheme, meaning there will now be a 5th grant.

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SEISS grant 5: Will the fifth grant be decreased? How much can I get?

If there is a fifth SEISS grant announced by the Chancellor, it will be for May onwards.
A fifth grant has not yet been announced by Mr Sunak - but the furlough scheme has been extended to September, meaning there would be support offered to freelancers as well.
The amount of support offered by the Treasury is likely to be reduced from May when restrictions are expected to ease.
This means any fifth grant could be the final one given to freelancers across the UK.
SEISS grant 5: Will the fifth grant be decreased? How much can I get? (Image: DOWNING STREET)

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SEISS grant 5: Could Chancellor extend SEISS past April?

The Chancellor is facing mounting pressure from businesses to extend the Self-Employment Income Support Scheme over the coming months of lockdown.
TUC general secretary Frances O'Grady said: "The Government must stop dithering and delaying and extend the full furlough scheme for at least the rest of 2021, and it must (give) urgent support for the self-employed.
"With jobs and livelihoods hanging in the balance there is no reason to keep workers and businesses waiting.
"We need a plan for supporting the parts of the economy hit hardest by repeated lockdown restrictions, like hospitality, retail, aviation and the creative industries.”
SEISS grant 5: Could Chancellor extend SEISS past April? (Image: GETTY)

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SEISS: Rishi Sunak warned self-employed need more help in Budget 2021 | Personal Finance | Finance

RISHI SUNAK has been warned Britons will need more help in his upcoming Budget, after statistics showed an exodus from self-employment.

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SEISS: How many grants are there, and will Chancellor announce SEISS extension? | Personal Finance | Finance

THE SELF-EMPLOYMENT Income Support Scheme has supported thousands of self-employed people since March 2020. So how many SEISS grants have there been and will Rishi Sunak announce an extension to the scheme next month?

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SEISS grant 'unlikely' to be extended - Treasury urged to provide clarity to self employed

| UPDATED: 07:26, Sun, Jan 24, 2021
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The SEISS grant was introduced by Chancellor Rishi Sunak last year in an effort to help self employed Brits stay on their feet while they were unable to work throughout the pandemic. The grant has since been extended three times so far, with the fourth grant expected to open for applicants in the coming weeks, although the Government hasn't yet confirmed exactly when this could be. While the scheme has undoubtedly helped millions across the country, a number of people have fallen through the cracks, having received no payment at all for their unpaid time off of work, which significantly deteriorates their financial situation.

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SEISS extension: Will there be a fifth grant?

| UPDATED: 12:41, Sat, Jan 16, 2021
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The Self-Employment Income Support Scheme (SEISS) is the Government’s support scheme for the self-employed, and it was recently extended until April 2021. The scheme is currently open for the third SEISS grant, but applications have now closed for the first and second SEISS grants. A fourth SEISS grant will be available later this year, but the Government has not confirmed how much the grant will be worth.

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