May 12, 2020
Self-employed people are an important part of UK’s workforce who have clearly been looking for encouragement and support during this national emergency.
HMRC has started contacting around 3.5m taxpayers who may be eligible for the government’s self-employment income support scheme (SEISS) In case they have suffered loss in income, then taxable grant will be paid to self-employed or partnership.
This will give cash grants of 80% of total profits, up to £2,500 p.m. over a 3-month period beginning from March 2020.So up to £7,500 of cash grant will be paid in lump sum for the three months.
An online checker is available which will help taxpayers to check their eligibility for themselves and gives date on which they can apply. Individuals will need their UTR & National Insurance (NI) number and should make sure details are up to date in government gateway account. The link to check eligibility is stated hereunder.
One can apply for it from 13th May 2020 once the online services are available. Self-employed people still can check their date to apply on HMRC portal. If your claim approved by HMRC, you will receive the payment in 6 working days.
HMRC is determining eligibility using information provided by customer in their 2018 to 2019 tax return and returns for 2016 to 2017 & 2017 to 2018
HMRC has warned taxpayers to call support phone lines only if they cannot find the information, they need on GOV.UK or via HMRC’s chat support.
Stay healthy, stay safe.