For self-employed people, what are your options now?
As part of the Treasury’s response to the Coronavirus crisis, self-employed people have been able to access its Self-Employment Income Support Scheme (SEISS) since May.
If you qualified for the first grant, you will be eligible for an additional “second and final” one; applications open in August. You don’t need to have claimed for the first to apply for the second, though.
Other key points:
- The grant is taxable, worth 70% of your average monthly trading profits and will be paid in a single instalment.
- It will cover three months’ worth of profit, capped at £6,570.
- As with the first grant, you’ll need to confirm your business has been adversely affected by Coronavirus.
You’ll have to make the application for yourself, via the SEISS portal. Once the amount of your grant has been calculated by HMRC, you can either accept it or request a review.
Demand will be high to the SEISS helpline/webchat platform, a good reason to get expert guidance. Lansdell & Rose has a team of chartered accountants and we are here to help.
To be eligible, you have to show that your business has been “adversely affected by Coronavirus” and, although HMRC does have an eligibility checker, many of our clients ask us for clarity. For example, you may qualify to access the SEISS if you continued trading yet were still financially impacted by the pandemic,because your business had to be scaled down.
Give our team of experienced experts a call – we can offer advice, and help you to make good, pragmatic decisions. As we move towards the future, Lansdell & Rose offers the kind of proactive positive support that can help you survive the months ahead.
Call Lansdell & Rose on 020 7376 9333 or complete the form below.