Self-employment income support scheme
A taxable grant can be claimed by some self-employed individuals.
Last Updated: 12 Oct 2020
How do I Claim under the Self-Employment Income Support Scheme?
Firstly, check that you meet one of the following conditions
Your profits from self-employed income for 2018 - 19 must be (a) less than £50,000 and (b) more than half of your total taxable income
Or
Your profits from self-employed income for the average of the last three years (2016 - 17 to 2018 - 19) must be (a) less than £50,000 and (b) more than half of your total taxable income
Important: Your profits from self-employed income means your taxable profits after capital allowances as shown on your tax return under the self-employed pages or partnership pages.
Secondly check that you can confirm the following
You must have submitted a tax return for the tax year 2018 – 19
You must have been self-employed in 2019 - 20 and intend to continue into the next year
Your self-employed profits must have suffered due to COVID-19 but need not have dried up completely
What will I get?
Assuming that you meet the conditions above, the amount that you can claim depends on the period in which the income loss occurs.
Lost income from March 2020 - May 2020 (NOTE: APPLICATIONS FOR THIS PERIOD ARE NOW CLOSED)
A maximum of 80% of your average profits can be claimed (up to £7500 for the entire 3-month period). This is claimed in a single application that must be made by 13th July 2020
Lost income from June 2020 - August 2020
A maximum of 70% of your average profits can be claimed (up to f £6500 for the entire 3-month period). This is claimed in a single application - This is claimed in a single application that must be made by 16 October 2020.
Lost income from November 2020 - January 2021
A maximum of 20% of your average profits can be claimed (up to f £1875 for the entire 3-month period). This is claimed in a single application - dates for making the claim are not yet announced but it is expected to be February 2021.
Lost income from February 2021 - April 2021
The exact maximum amount claimable has not been decided yet. This is claimed in a single application - dates for making the claim are not yet announced but it is expected to be May 2021.
How can I claim it?
Firstly check you have a government gateway ID and password. If you don’t, You can set one up as you're making your claim. Also check you have a bank account that will accept bacs payments.
HMRC should have contacted you if you are eligible and invited you to apply using the gov.uk online service. This should happen mid – May. Beware of scams – don’t respond to any texts, calls of emails claiming to be HMRC and asking you to click on a link or give personal information.
Finally, make the claim online - you will find the website here:
Self-employment income support claims
You will need the following:
Your UTR (Unique Taxpayer Reference) number (ask us if you’re not sure of this)
Your N I(National Insurance) number
Your government gateway user ID and password (we have an example of how to create one HERE)
Your bank account number and sort code
What next?
You’ll be told straight away if your claim is successful
You should receive payment directly into your bank account in six working days
Can’t you make the claim for me?
Unfortunately, HMRC will not allow anyone to make the claim for you, not even your tax agent. However, if you get stuck give us a call and we’ll try to help. Don’t worry - you won’t need to do any complicated calculations – HMRC will work out the claim amount for you.
Further Information
Further information about the grant is available on the following government website:
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
Please note that the above is intended as a summary guide only. Please take further advice or check the detailed Government guidance before taking any action.
