If you're self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) you can now check if you can claim a grant through the Self-Employment Income Support Scheme (SEISS).
This week HMRC will begin contacting people they believe are eligible for the new Self-Employment Income Support Scheme. If you are eligible, the scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of a single £7,500 payment covering a three month period (cap of £2,500 per month akin to the Job Retention Scheme cap).
The process is quick and easy for you to follow, although Armstrong Watson can help guide you through the eligibility criteria and assist you in checking and claiming the support.
Under the rules of the scheme, not every self-employed person will be able to claim. HMRC have identified the people they believe are eligible, but you will be able to ask for a review if you think you are eligible and have not been considered as such. If you request a review, HMRC have stated that they will look at all cases from 18 May and explain eligibility by the end of May.
The updated guidance on SEISS can be found here, including information on eligibility, how you can make a claim and how the grants are calculated.
This is a very challenging time and some people may be disappointed if they are not eligible, however we may be able to assist you in accessing other forms of COVID-19 financial support, including:
• Delay VAT payments
• Delay Self Assessment payment on account
• Time to Pay arrangements for other taxes
• Get a payment from the Small Business Grant Fund
• Get a loan from the Business Interruption Loan Scheme or Bounce Back Loan
• Get Universal Credit
• Apply for Employment and Support Allowance (ESA)
• Apply for Child Benefit.
HMRC are aware of an increase in scam emails, calls and texts. Eligible customers will be invited to claim through GOV.UK – it is the only service you can use. If someone gets in touch with you claiming to be from HMRC, saying that financial help can be claimed or that a tax refund is owed, and asks them to click on a link or to give information such as their name, credit card or bank details, they should not respond. It is a scam.
Suspicious emails claiming to be from HMRC should reported to us by sending them to email@example.com. Texts should be sent to 60599.