Self-employment Income Support Scheme

The scheme is now open for the second grant. You must make your claim for the second grant on or before 19th October 2020. You can claim for the second grant even if you didn't claim for the first grant.

The Self-employment Income Support Scheme (SEISS) has been extended.

First SEISS grant

Applications for the first grant closed on 13th July 2020.

Second SEISS grant now available

The scheme is now open for the second grant. If you’re eligible, HMRC will contact you and give you a date to make your claim from.

If you have not received a date from HMRC and think you’re eligible, you can use the online service to check. If you’re eligible, they will give you a date you can make your claim from.

If your business has been adversely affected on or after 14th July 2020, you must make your claim for the second grant on or before 19th October 2020.

You will have to confirm your business has been adversely affected by COVID-19 on or after 14th July 2020. See examples of what "adversely affected" may mean.

You can claim for the second grant even if you do not make a claim for the first grant.

The second and final grant will be a taxable grant worth 70% of your average monthly trading profits, paid out in a single instalment covering a further 3 months’ worth of profits, and capped at £6,570 in total.

Update for self-employed parents

Self-employed parents whose trading profits dipped in 2018/19 because they took time out to have children will be able to claim for a payment under the scheme. Read more information here.

How to make a claim

Claims can be made through the government's SEISS webpage.

The scheme is for the self-employed and members of partnerships whose trade/business has been adversely affected by coronavirus (COVID-19).

Check if you're eligible by using HMRC’s online checker. You'll need your:

Your tax agent or adviser can also check your eligibility on your behalf, but they must not make the actual claim on your behalf.

Some people may not be eligible for the scheme. Read this guidance for more information.

When you make your claim, you’ll need your:

  • 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 also have to confirm to HMRC that your business has been adversely affected by coronavirus.

HMRC will work out if you’re eligible and how much grant funding you may get. If your claim is approved, you’ll receive your payment within 6 working days. HMRC will send an email when your payment is on its way. The grant will be subject to Income Tax and self-employed National Insurance.

You can check the status of your payment here.

You must make your claim yourself

Your tax agent or adviser can also check your eligibility on your behalf, but they must not make the actual claim on your behalf as this will trigger a fraud alert, and you will have to contact HMRC. This will cause a significant delay to you receiving your payment. You must make the claim yourself.

Filed your 2018-19 tax return after 23rd April 2020?

If you did not submit your Self Assessment tax return for the tax year 2018 to 2019 on or before 23rd April 2020, you will not be able to claim. Read more information here.

Did you amend your tax return after 26th March 2020?

If you amended a submitted return after 6pm on 26th March 2020, any changes will not be taken into account when working out your eligibility or amount of the grant. Read more information here.

How HMRC works out total income and trading profits

HMRC has detailed how it will work out your income and profits if you're self-employed or a member of a partnership in the UK and have lost profits due to coronavirus (COVID-19).

HMRC will use the average profits from tax returns in 2016-17, 2017-18 and 2018-19 to calculate the size of the grant. The scheme will be open to those where the majority of their income comes from self-employment and who have profits of less than £50,000. If you started trading between 2016-19, HMRC will only use those years for which you filed a Self-Assessment tax return. The grant will be subject to Income Tax and National Insurance contributions but does not need to be repaid.

Claims can be made through the government's SEISS webpage.

Stay informed of the latest business support re: COVID-19

Visit the Buckinghamshire Business First COVID-19 business support hub for the latest support and information from the government, business support organisations and other avenues of support. Bookmark www.bbf.uk.com/covid-19 so you can easily find it in the future.

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