New Update for the Self-Employed
For those of you that are self employed and have been waiting patiently for the support to be rolled out from the Government
From yesterday (Monday 4th of May), HM Revenue and Customs (HMRC) began contacting customers who may be eligible for the government’s Self-Employment Income Support Scheme (SEISS).
Those of you who are eligible will be able to claim a taxable grant worth 80% of your average trading profits up to a maximum of £7,500 (equivalent to three months’ profits), paid in a single instalment.
HMRC is inviting you, to go online and check your eligibility for SEISS.
In order to receive quick confirmation from the eligibility checker, you will need your Unique Taxpayer Reference (UTR) and your National Insurance Number to hand.
I would also suggest that you make sure your details are up-to-date in your Government Gateway account
Once the online check is complete; if eligible you will be given a date when you can submit your claim.
Unfortunately, under the rules of the scheme, not every self-employed person will be able to claim. This is a very challenging time and rightly so you will be disappointed if you are not eligible.
Please remember you may also be able to:
delay VAT payments
delay your Self-Assessment payment on account
arrange to pay your Self-Assessment tax bill in instalments
get a payment from the Small Business Grant Fund
get a loan from the Business Interruption Loan Scheme or Bounce Back Loan (more to follow on this)
get Universal Credit
apply for Employment and Support Allowance (ESA)
apply for Child Benefit.
HMRC have tried to identify the right people who are eligible, but of course you will be able to ask for a review if you feel your claim has grounds for consideration. HMRC have said they will look at some cases from the 18th of May and explain your eligibility by the end of May.
As you will have seen, we have been updating you with information on the support and schemes available as and when the information becomes available to us.