If you’re self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) you may be eligible to receive a grant from the Self-employment Income Support Scheme (SEISS).
This scheme is now closed. The last day for applications was 13 July 2020.
Second and Final Grant
If you are eligible and can confirm to HMRC that your business has been adversely affected on or after 14 July 2020, you’ll be able to make a claim for a second and final grant from 17 August 2020.
The scheme allows you to claim a second and final taxable grant worth 70% of your average monthly trading profits, paid out in a single installment covering 3 months’ worth of profits, and capped at £6,570 in total. HMRC will contact you if you’re eligible and give a date from when you can apply. You must make your claim for the second grant on or before 19 October 2020.
Eligibility criteria are the same for both grants, but you do not need to have claimed the first grant in order to be eligible for the second and final grant.
You can check if you are eligible to claim using the eligibility checker. You will need your Self Assessment Unique Taxpayer Reference (UTR) number, National Insurance number and a Government Gateway ID.
Self-employed individuals, including members of partnerships, are eligible if they:
- submitted their Income Tax Self-Assessment tax return for the tax year 2018-19
- continued to trade in 2019-20 and intend to keep trading in 2020-21
- carry on a trade which has been adversely affected by COVID-19
- have average self-employed trading profits of no more than £50,000 and at least equal to their non-trading income.
During the application process you will be given a calculation of the amount of the grant you are eligible to claim, you will not need to enter any figures or information about your income. There is no option to claim an increased or reduced amount of grant, you can only claim the amount of the grant as calculated by HMRC and request a review, via the link provided, if you think that the amount is wrong. The grant is calculated based on the trading profits shown on the tax returns; no adjustment is made if you only traded for part of the tax year.
If you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work, or duties as an armed forces reservist.
The grant will be subject to Income Tax and self-employed National Insurance.
You must keep a copy of all records in line with normal self-employment record keeping requirements, including:
- the amount claimed
- the claim reference number for your records
- evidence that your business has been adversely affected by coronavirus
You will need to report the grant:
- on your Self Assessment tax return
- as self-employed income for any Universal Credit claims
- as self-employed income and that you’re working 16 hours a week for any tax credits claims
We can help you get the information together to make a claim and work out if you are eligible, but you must make the claim yourself.
If we can support you with this please contact us.
If you are not eligible for the Self-employment Income Support Scheme, you may be able to find alternative financial support:
- delay VAT payments
- delay their Self Assessment payment on account
- arrange to pay their Self Assessment tax bill in instalments
- 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.
SCAM ALERT: If you receive texts, calls or emails claiming to be from HMRC, offering financial help or a tax refund and asking you to click on a link or to give personal information, it is a scam. You should email it to firstname.lastname@example.org and then delete it.