Government scheme to support self-employed launches

Ahead of schedule, the Government’s Self-Employed Income Support Scheme (SEISS) opened for claims on the morning of 13 May.

The scheme provides eligible individuals with a grant worth up to 80% of their average monthly trading profits across three years.

Those applying must be able to prove that their trade has been negatively impacted by Covid-19.

Payments will be made in a single instalment covering three months and capped at £7,500.

Initially, we were not expecting payments to be made until June; however, it’s possible that some payments will be made before the end of May. The Government aims to make all payments within six working days of a successful claim.

The Chancellor of the Exchequer, Rishi Sunak, said: “With payments arriving before the end of the month, self-employed across the UK will have money in their pockets to help them through these challenging times.”

If you could be eligible, HMRC should have already contacted you to notify you. In doing so, HMRC should also have explained the application process and assigned you an application date.

HMRC has assigned individuals a date between 13-18 May; this can be checked via HMRC’s online checker using your unique taxpayer reference (UTR) number.

Claims can be made on or after the date you have been assigned. Currently, there is no ‘cut off’ date that we are aware of.

If you have not yet been contacted by HMRC, and you think you are eligible, or you are unsure about your eligibility, please contact your usual adviser who will be able to discuss this with you in more detail.

Though we cannot make the claim on your behalf, we are still here to support and advise you.

You can also check your eligibility here.

A review of entitlement

Taxpayers and agents can request a review of grant entitlement. Requests can be made if the taxpayer does not agree with their SEISS eligibility status, or the grant amount calculated by HMRC. Eligibility status can be reviewed via the online checker, and a review of the amount can be requested via an online form.

In all instances, HMRC’s guidance should be referred to before any reviews are initiated.

Information is correct at time of writing (20/05/2020). Please keep an eye on our dedicated Coronavirus Resource Hub, and our Rebuild & Recover Resource Hub for the very latest news as we endeavour to cover the key issues affecting you and your business at this time.

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