The government will pay self-employed people adversely affected by coronavirus a taxable grant worth 80% of their average monthly trading profit over the last three years, up to £2,500 per month, for at least three months (in line with the employed scheme).
From today (Monday 4 May), HMRC will begin contacting customers who may be eligible for the government’s Self-Employment Income Support Scheme (SEISS). Those who are eligible will be able to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500 (equivalent to three months’ profits), paid in a single instalment.
HMRC is also inviting customers, or their agents, to go online and check their eligibility for SEISS, get in touch with us if you’d like us to check your eligibility on your behalf.
In order to receive quick confirmation from the eligibility checker, individuals should:
- Have your Unique Taxpayer Reference (UTR) and your National Insurance Number to hand
- Make sure your details are up-to-date in your Government Gateway account
To make the claim you must have a government gateway account. Full details are here:
Once the online check is complete and you are found eligible, you will be given a date when you can submit your claim. You will also be encouraged to update your contact details.
Claims service opening shortly
The claims service will open on 13 May and is being delivered ahead of the original timetable. This will help millions of self-employed people, covering a wide range of industries and jobs, whose livelihoods have been adversely affected by the coronavirus.
The claims process will be very simple, and if you are eligible you will have the money paid into your bank account by 25 May, or within six working days of completing a claim.
When you make your claim you’ll only need your:
· Self Assessment UTR – if you do not have this find out how to get your lost UTR
· National Insurance number – if you do not have this find out how to get your lost National Insurance number
· Government Gateway user ID and password – if you do not have a user ID, you can create one when you check your eligibility online
· Bank account number and sort code you want HMRC to pay the grant into (only provide bank account details where a Bacs payment can be accepted)
· You’ll have to confirm to HMRC that your business has been adversely affected by coronavirus.
Currently it appears that whilst we can check your eligibility, we are not authorised to make the claim on your behalf.
You are eligible if your business has been adversely affected by coronavirus, you traded in the tax year 2019 to 2020, intend to continue trading, and you:
· earn at least half of your income through self-employment
· have trading profits of no more than £50,000 per year
· traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
HMRC is using information that customers have provided in their 2018 to 2019 tax return – and returns for 2016 to 2017 and 2017 to 2018 where needed – to determine your eligibility and is contacting customers who may be eligible via email, text message or letter.
If you have any questions, please email us on email@example.com
Raffingers will be covering all of the Coronavirus updates as and when they come through from the government so sign up to our Coronavirus update mailing list by clicking here.