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The fourth taxable grant will cover 80% of average trading profits, capped at £7,500. The fourth grant will take into account 2019 and 2020 tax returns and will be open to those who became self-employed in the tax year 2019/2020. Eligibility for the scheme will be...
The third grant for SEISS is now open. To make a claim for the grant, your business must have been impacted by coronavirus on or after 1 November 2020. You can make a claim for the third grant if you are eligible, even if you...
Businesses eligible for the first Self Employment grant must make their claim by Monday 13th July 2020. At the end of May the government announced that the scheme would be extended, with a second and final payment being made in August 2020. The deadline of 13th July...
Job retention “furlough” scheme extended to October Chancellor Rishi Sunak announced on 12 May that the CJRS scheme will be extended until the end of October. The scheme will continue in its current form until the end of July with the Government paying 80% of employees...
HMRC updated their guidance 4 May to outline the process for applying for SEISS, full details can be found here. The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3...
HMRC have issued some more details relating to the claims for the Self-Employed Income Support. The latest guidance was issued by HMRC on 1 May and information around this can be found here. As with many HMRC “guidance notes” issued recently, these tend to be quite...
HMRC update their Guidance on the SEISS scheme. A summary from the HMRC website guidance: Who can claim? You can claim if you are a self-employed individual or a member of a partnership and: you carry on a trade which has been adversely affected by coronavirus you traded...
Like the Coronavirus Job Retention Scheme for employers the initial HMRC guidance on the grant scheme to support the self-employed and members in partnerships was also very sketchy. In outline the Self-Employed Income Support Scheme allows the self-employed to claim 80% of their average profits for...
The Government has stepped in to provide support to certain areas of the economy but even with this becoming available in the coming weeks, some of us will need advice on how to survive the lock down. Here are our thoughts. Apply for all Government...
Written 26 March 2020 Help for the Self Employed Chancellor Rishi Sunak has announced measures to support the self-employed and partnerships. The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19. The scheme will provide a...