Covid-19 Information

Self-employment Income Support Scheme

On Thursday 26 March the Government announced a new Self-employment Income Support Scheme (SEISS) to support the self-employed, and members of partnerships, who have lost income due to coronavirus.

The detailed guidance can be found here. To be eligible for the scheme self-employed must meet all the criteria below:

  • Be self-employed or a member of partnership;
  • Have lost trading/partnership trading profits due to coronavirus;
  • File a tax return for 2018/19 as self-employed or a member of a trading partnership. Those who have not yet filed for 2018/19 have an additional four weeks until 23 Aril 2020 to do so;
  • Have traded in 2019/20; be currently trading at the point of application (or would be trading except for coronavirus) and intend to continue to trade in the tax year 2020 to 2021
  • Have trading profits of less than £50,000, and more than half of their total income coming from self-employment.

The scheme will provide a grant to eligible self-employed individuals or partnerships, based on trading profit for the last 3 tax years, up to a cap of £2,500 per month.

Note:

  • This scheme is being delivered by HMRC.
  • Eligible self-employed should not contact HMRC now.
  • HMRC will contact eligible self-employed directly once the scheme is operational and invite them to apply via their usual .gov login. If you receive a phone call or email asking you to click a new link do not click it, it is a scam. The grant will be paid directly to the eligible customers’ bank account.
  • Grants are expected to start to be paid out in June 2020.

If an individual needs financial help whilst waiting for SEISS, they should consider claiming Universal Credit, see Understanding Universal Credit for further information.

For further information on the Self -employment Income Support Scheme also see here.

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