So 20% of a capped £50k? If the 50k eligibility cap still applies? If so then max would be
(£50k / 12) x 20% = £833.33 a month. Over 3 months that would be £2,500, not £1,875.
Which bit am I getting wrong ?
Also will the site do the “we have calculated that you are due £x” bit for people - in which case just wait and see I guess
The amount paid is capped at £1,875.Originally Posted by RustyBin5
So 20% of a capped £50k? If the 50k eligibility cap still applies? If so then max would be
(£50k / 12) x 20% = £833.33 a month. Over 3 months that would be £2,500, not £1,875.
Which bit am I getting wrong ?
Also will the site do the “we have calculated that you are due £x” bit for people - in which case just wait and see I guess
Ok so £37,500pa is the golden number then to get max benefits. Earning from £37,500 to £50,000 will get the same amount. Then scaling down from £37,500 and below.
Understood
Sunak announces more free money via SEISS. From MSE: "The next Self-Employed Income Support Scheme grant will be doubled, and will now be worth up to £3,750.*It was due to be worth 20% of three months' worth of average monthly profits up to a total of £1,875 - it will now be worth 40%, up to £3,750."
UPDATE: You must declare that your business have been impacted by REDUCED DEMAND due to COVID-19 in the qualifying period. This differs from grant 1 and grant 2, where any adverse impact due to COVID-19 would mean you qualified for the scheme.
Last edited by beechcustom; 22nd October 2020 at 16:12.
I missed this announcement. Are the months covered by this one Nov Dec and Jan?
Yes. 3rd Grant = Nov, Dec, Jan
4th Grant = Feb, Mar, Apr.
Wow there’s a 4th too? I’d have hoped we would be out if the woods by April!
Third support payment emails should hit your inboxes today. Don’t forget if you are eligible. I will be telling my clients later
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