SEISS 5 is coming
The week in Creative Money - 8 July, 2021
Creative Money aims to have an open conversation about finances in the creative industries.
It was founded in July, 2020 in an attempt to address a frustrating lack of relatable financial guidance for creative workers and is written by me, Matt Parker, a music journalist and lecturer.
Hello! Things seem to be opening up again, but there are still many freelancers and self-employed creative types who are a long way off getting back to normal.
The good news for some is that the fifth instalment of the Self-Employed Income Support Scheme (SEISS) will be available soon. Those eligible should be able to apply from the end of July, but there are a few things to note:
As in previous grants, you will receive a maximum grant of 80% of your average profits for three months, or £7,500, whichever is lower.
How much you get is now dependent on your turnover. They will look at your turnover to April 2021 and ask you to supply a previous year for comparison.
If your turnover has dropped by more than 30% you will be eligible for 80% of profits (up to the £7,500 cap). If it has dropped by less than this, you’ll only be eligible for a grant of 30% of your profits (with a cap of £2,850).
If were newly self-employed in the 2019-2020 tax year you’ll automatically be offered the 80%
The application window will close 30 September, 2021.
It’s also really worth highlighting that you will be liable to pay income tax on these grants, so don’t underestimate what that might do to your tax savings requirements. Get your 2020-2021 self-assessment sorted ASAP, so you don’t get a nasty shock in January.
🎂 Finally, it’s Creative Money’s 1st birthday! 🎂
What a weird year it’s been, but since launching, the site has had 8.5K page views, I’ve delivered money workshops to students in five different UK cities and had the excuse to chat to and learn from some brilliant people (shoutouts to: BIMM Institute, Freelancing For Journalists, I Like Networking and Lydia Wilkins, in particular). It has been exhausting and great all at once.
A hearty thanks to you for supporting what I’m doing here and for taking the time to read this newsletter.
If you ever have any suggestions about how to make it better, questions about Creative Money-related stuff, or just want to say hello, I would love to hear from you. Just drop me a line on email@example.com.
Until next time,
Sharing is caring! Support Creative Money by passing it on…
What do you need to know this week?
Can Fugazi help us imagine a better future for music? (Money 4 Nothing podcast)
Musician using social media? Help Musicians want to hear from you (Help Musicians)
Do not let non-competes kill your business (Underpinned)
Bit of a shift happening here… Another firm offers musician loans without releasing their rights to material (Music Business Worldwide)
And finally, Viz explains Bitcoin…
Grants and funding opportunities for UK creative workers
A three month course specifically designed for businesses in the creative industries. Through weekly workshops, mentoring, pitch practice, peer to peer learning and free onsite desk space. Open to 18-30 year-olds who have started their own creative businesses. Deadline: 9 July, 2021
CLOSING: Ian Parry Photography Scholarship
An international photographic competition for young photographers who are either attending a full-time photographic course or are under 24. Each winner will receive $3,500 towards their chosen project, mentorship and other perks. Deadline: 9 July, 2021
CLOSING: V&A Digital Wonderlands Residency
Invites applications from UK based practitioners working across the mediums and disciplines of digital creative arts. Offers £12,000 residency stipend and a studio space. Deadline: 9 July, 2021
Seeks to discover talented writers on contemporary art. The winner will receive £1,000, their review will be published on the Burlington Contemporary platform and they will also have the opportunity to publish a review of a future contemporary art exhibition in The Burlington Magazine. Deadline: 12 July, 2021
CLOSING: W&A Working-Class Writers' Prize
Offers a cash prize of £200, plus mentorship from author Paul Mendez, Society Of Authors membership and numerous other perks including free books and guides. Deadline: 16 July, 2021
Liverpool-based organisations can bid for grants of up to £20,000, to help them deliver outdoor arts and creative events which will encourage audiences back in to the city, showcase new talent and support Liverpool’s reputation as a city renowned for staging performances and festivals. Deadline: 25 July, 2021
An opportunity for a group of UK-based, early-career artists to explore queer performance practice via a paid rural residential retreat in September. Includes a free weekend of workshops, travel contribution and £70 per day honorarium fee. Deadline: 30 July, 2021
The BRITs Apprentice Scheme is back for a third round and is now recruiting for ten apprentices to take up fifteen-month paid placements with independent record labels and music companies. Deadline: 31 July, 2021
Looking for applications from writers of Black, Asian and other racial and ethnic backgrounds. Fellowship includes a bursary of £22,568 to write a spec script for an original idea over the course of a year, monthly development workshops, and a paid placement in a writers room of a Netflix or Sky series. Deadline: unconfirmed but you need to be available from September
Awarded to students from less-affluent backgrounds who demonstrate potential and determination. They must be studying TV Production and Journalism or related subjects, or degrees such as Physics, Maths and Computer Science. Offers mentoring and £1,000 per academic year of study. Deadline: 1 September, 2021
Society of Authors Contingency Fund
Helps writers, illustrators, literary translators, scriptwriters, poets, journalists and others, whose author-related activities make up a substantial amount of their annual income. Grants range in value from £500 to £2,000. Deadline: ongoing
ArtCry is setup to provide a rapid turnaround of funding for art works responding to current events. Grants of up to £2,500 with a panel of artists, activists, creators and producers making decisions on applications within a week. Deadline: ongoing
Help Musicians Hardship Fund
The third phase of one of the major support funds for musicians is now open and will support successful applicants with a monthly top-up until September 2021. Deadline: ongoing
Royal Variety Charity Financial Assistance grants
The Royal Variety Charity is uniquely positioned to provide financial assistance to anyone who serves any facet of the Entertainment Industry. Deadline: ongoing
The White Pube Writers Grant funded by Creative Debuts
£500 given out monthly to a working class writer based in the UK. This grant has been set up to support writers of all ages who are early in their careers and would benefit from this no-strings attached financial support to help them in whatever they like. Deadline: ongoing
Share this week’s newsletter with someone else using this magic button.
Doom scroller? Follow Creative Money on social media!
Disclaimer: This is information – not financial advice or recommendation.
The content and materials featured or linked to on CreativeMoney.co.uk or our emails are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such.
Always do your own research and seek independent financial advice when required. Any arrangement made between you and any third party named or linked to from the site is at your sole risk and responsibility. Creative Money and its associated writers assume no liability for your actions.
Investing carries risks: The value of investments and any income derived from them can fall as well as rise and you may not get back the original amount you invested.
Disclosure: When content is published about a company or organisation with which Creative Money has a commercial relationship or interest (such as an advertiser or sponsor) that fact will be clearly disclosed in the article.