News

Support for the Self Employed: #COVID-19 #Coronavirus

The UK Government announced support for the self employed yesterday, 26th of March, during the COVID-19 pandemic.

Details

Open to those with a trading profit of less than £50,000 in 2018-19 or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19.

More than half of your income in these periods must come from self-employment.

Only those who are already in self-employment and meet the above conditions will be eligible to apply

HMRC will identify eligible taxpayers and contact them directly with guidance on how to apply.

Grants will be paid in June

The grant will be a single lump sum instalment backdated to cover the 3 months up to May

HMRC will use the average trading profits from tax returns in 2016-17, 2017-18 and 2018-19 to determine the size of the grant

Link:Claim a grant through the coronavirus (COVID-19) Self-employment Income Support Scheme

self employed grant support

 

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