Seiss 3 & 4 "Reduced demand"

jmb1

Hi. I am considering my eligibility for the new grants on the basis of declaring reduced demand.what doesn't seem clear to me is over what period this reduced demand covers. My overall turnover/ profits to date are approx 7k lower this year compared to up to the same point last year. Would this suffice eligibility? Or, is it talking about a reduced demand since (say) the last grant and the point you make a new claim for 3rd grant? It doesn't seem to specify. I don't wish to make a claim if I'm not eligible however I have certainly had an overall income reduction due to covid and feeling the effects of that.

BabyStepper

To be eligible for the 3rd SEISS grant your business needs to have been impacted between 1st November and the 31st of January. We can apply for the 3rd grant from 14th December, by which point you will know how your business is doing at that time. All the info is here:
https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/
It sounds like you were also eligible for the first 2 grants if your turnover is down by £7k. Not sure why you didn't apply for those too? 

jmb1

BabyStepper said:

To be eligible for the 3rd SEISS grant your business needs to have been impacted between 1st November and the 31st of January. We can apply for the 3rd grant from 14th December, by which point you will know how your business is doing at that time. All the info is here:
https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/
It sounds like you were also eligible for the first 2 grants if your turnover is down by £7k. Not sure why you didn't apply for those too? 

Ah ok. 
I did apply for first two. Did I say I didn't? 

Jeremy535897

More detailed guidance/legislation should be available to clarify the situation before the claim period begins.

calcotti

BabyStepper said:

To be eligible for the 3rd SEISS grant your business needs to have been impacted between 1st November and the 31st of January. We can apply for the 3rd grant from 14th December, by which point you will know how your business is doing at that time. ...

Claim date brought forward to 30th November. https://www.gov.uk/government/news/government-increases-support-for-self-employed-across-the-uk

BabyStepper

My apologies jmb1, I read your post as you using the previous impact on your business as eligibility for the 3rd grant, as though you hadn't already had help with that. Glad you're getting everything due. 

Thanks for the update calcotti. Appreciated. 

jmb1

"between 1st November and the 31st of January." I read this before on a previous hmrc guidance somewhere too but it no longer says that so I guess why I ask. As Jeremy says above, hopefully they'll clarify soon (or dont, in which case I'll assume a reduced demand due to covid at any time up til claiming is eligibile.) 

BabyStepper

It still says it here.
https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

Not sure where you're looking?

jmb1

BabyStepper said:

It still says it here.
https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

Not sure where you're looking?

Do you mean "This therefore increases the total level of the grant from 40% to 55% of trading profits for 1 November 2020 to 31 January 2020."? Because that just seems to state the period it covers, not the eligibility period that your business must have had a reduced demand over, is how I read it? Or perhaps I've finally lost it.

Jeremy535897

jmb1 said:

BabyStepper said:

It still says it here.
https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

Not sure where you're looking?

Do you mean "This therefore increases the total level of the grant from 40% to 55% of trading profits for 1 November 2020 to 31 January 2020."? Because that just seems to state the period it covers, not the eligibility period that your business must have had a reduced demand over, is how I read it? Or perhaps I've finally lost it.

The point at which you have to be suffering reduced demand is the point at which you put in the claim. We await further details.

jmb1

Jeremy535897 said:

jmb1 said:

BabyStepper said:

It still says it here.
https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

Not sure where you're looking?

Do you mean "This therefore increases the total level of the grant from 40% to 55% of trading profits for 1 November 2020 to 31 January 2020."? Because that just seems to state the period it covers, not the eligibility period that your business must have had a reduced demand over, is how I read it? Or perhaps I've finally lost it.

The point at which you have to be suffering reduced demand is the point at which you put in the claim. We await further details.

Hi there. Given the newer guidelines, what is the period they are now looking at do you think? The way I read it, it is reduced demand this financial year (not just the period the grant covers).

So in my case, our supplier closed down earlier in April/May forcing us to close, which I know demonstrably reduced my overall profits. Do you agree I can therefore claim? Or do you read it differently?