Updated for 05/11/2020 - Chancellor announced increasing support to 80% of profits for November, December and January with the total grant capped to £7,500 - article and calculator below have been updated.
The Chancellor Rishi Sunak has just announced an extension to the SEISS income support scheme for the self-employed.
Use the tool below to see how much you support income you could receive in the third phase in January:
If the calculation tool did not display, please click here to reload the page.
You can also use our older self employed support scheme calculator that has shows you figures for SEISS 1 and SEISS 2.
The scheme will now cover the additional three months of November, December and January. Based on the average turnover amount of the applicant, the payout will be 80% of profit for November, December and January. The maximum total grant payable will be £7,500. Applicants are expected to receive the support money in a single claim they can make starting from the end of November.
No eligibility criteria changes have been made, so the cliff-edge £50,000 maximum turnover average remains, as do requirements for the primary source of income being self employment income.
Even though the scheme is to be extended for six months from November 2020 to April 2021, the terms for the three months of February, March and April are likely to change as the government has stated they will review the situation at that time.