Chancellor Rishi Sunak announced the Self-Employment Income Support Scheme last year, as part of the Government’s support package for businesses and workers during the coronavirus pandemic. The scheme has since paid out billions of pounds worth of taxable grants to many self-employed individuals.
How many self-employed grants are there?
Since the Self-Employment Income Support Scheme was introduced last year, the Government has offered four grants in total.
Initially, the Government only offered one SEISS grant back in March 2020.
However, another grant was subsequently offered for another three-month period later in the year.
READ MORE: SEISS 4th grant: When will the fourth self-employed grant be paid?
Will there be another SEISS grant?
Applications for the third SEISS grant close on January 29, 2021, and after this point applications for the fourth SEISS grant are expected to open in due course.
Some businesses have called on the Chancellor to extend the SEISS scheme further, but it is not known whether the Government may offer a fifth SEISS grant further down the line.
Earlier this week when asked if further Government support could be provided in the future, Mr Sunak said the Government would “take stock” of the support offered at the time.
He said: “We’ll have a Budget in early March, where we’ll take stock of all the various support that we’ve put in place, including today’s announcement of cash grants, and then review and set out the next stage of our economic response to coronavirus at that point.”
Many people have been excluded from the SEISS scheme, such as the newly self-employed and people who are directors in their company.
But according to Martin Lewis tips in MoneySavingExpert’s weekly newsletter, the eligibility criteria for SEISS grant four could change to include more people.
Mr Lewis said: “Up to 2.9m people have been excluded from furlough or SEISS, including PAYE freelancers, ltd company directors, new-starter self-employed and more – personally, as I told the Treasury Committee, I believe this is a short-sighted mistake.
“I’ve no update, but do think SEISS grant 4 may now be tweaked to include more people, strengthening the reasons I first explained in my A glimmer of hope for excluded self-employed blog last Nov.”