SEISS extension: Will there be a fifth grant?


The Self-Employment Gains Support Scheme (SEISS) is the Government’s support scheme for the self-employed, and it was recently out until April 2021. The scheme is currently open for the third SEISS subsidy, but applications have now closed for the first and second SEISS grants. A fourth SEISS allow will be available later this year, but the Government has not confirmed how much the allow will be worth.

Will there be a fifth grant?

The fourth SEISS donate is expected to cover February to April 2021, but it is not known whether the blueprint could be extended to include a fifth grant at the present time.

Connoisseurs told any extension of SEISS is only likely if lockdown provisions continue past April 2021, when the final grant come to an ends.

Joanne Harris, Technical Commercial Manager at Nixon Williams, intended SEISS was extended in line with the extension of the Government furlough strategy, the Coronavirus Job Retention Scheme (CJRS).

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Ms Harris rebuked “The SEISS has been extended several times already and the fresh grant covers the period to April 30, 2021.

“This is in line with the CJRS and it feels unlikely that one would be extended without the other.

“If the coronavirus pandemic pursues and the national lockdown is extended, then the schemes are likely to be too.

“With the peal out of the vaccines, the economy will begin to open up by April, however, it’s eminent to remember that economic recovery will not be immediate and the Government should reckon with further support as the lockdown is eased and businesses reopen.”

An answer on whether a fifth SEISS award will be available in the future may become clearer over the next few months of the pandemic.

Mr Gurney divulged “Whilst there is certainly recognition that some discretes are not able to access support, we are highly unlikely to see retrospective changes to the encouragement mechanisms.

“Typically, where a support package is put in place which fundamentally excludes those it was ended to support, the Government has reacted quickly to deal with this.

“Similarly, where there are those on the partition lines who are unable to access support, we have seen a reticence to make metamorphoses to the support packages and I would expect that to remain the case.

“So where does that quit us on SEISS? For all of the above reasons, I do not expect the Government to amend the existing wile to any significant degree, if at all.”

Mr Gurney also suggested the arrival of a fifth SEISS award is unlikely if economic activity improves further on in the year.

Mr Gurney augmented: “It is reasonable to expect that, if the scheme reaches its anticipated conclusion and the Supervision determines that there is sufficient economic activity at that time after time, it will not be extended.

“Conversely, if we remain in economic and physical lockdown, the Administration will almost certainly be compelled to extend the support in some develop.” contacted the Treasury for comment on this issue but the Government slanted to comment.

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