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Self employed income support scheme - Grant 2 of 2

Self employed income support scheme - Grant 2 of 2
Many of you will be aware that the first self-employed grant closed on 13 July, however a second and final grant is available and will open for applications on Monday 17th August 2020 and will close on Monday 19th October 2020
 
 
In summary;
 
  • you need to have been adversely affected by Coronavirus on or after 14 July.
  • the grant is worth 70% of your trading profits (first grant was 80%)
  • there is no requirement for you to have claimed the first grant in order to be eligible for the second grant.
  • you must have filed a tax return for the 2018/19 tax year.
  • the grant is based on your profits over three tax years so 2016/17, 2017/18 and 2018/19
  • to be eligible you must earn more than 50% of your total income from self-employment.
  • Your average trading profit must be less than £50,000 a year.
  • Unlike the employee furlough scheme, you CAN keep working.
  • Even if you claim the grant, you can still apply for and be eligible for universal credit.
  • Although the HMRC portal is not open for applications yet, we would advise on collating your information in advance to avoid any delay in receiving your grant.
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    For further information, please contact Chandni Ladwa; [email protected]
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