Self-employed workers whose livelihoods have been affected by Coronavirus can now claim a second payment of up to £6,570.

The scheme went live on 17 August and those eligible will be able to receive a final grant worth 70% of their average monthly trading profits.

Once you have made a claim, you can expect the money to come through within six working days.

Anyone whose self-employed business has been adversely affected by Coronavirus since 14 July is eligible for the scheme. Please head to gov.uk to find out more or have a read of our stories ‘How circumstances can affect the Self-Employment Income Support Scheme’ and ‘New updates to the Self-Employment Income Support Scheme.’

As we mention in our story, there are a number of circumstances which can affect your claim. One of many is if you had a child and this has affected trading profits or total income which you reported for the tax year 2018/19. Head to gov.uk to find out what to do in this situation.

 

How HMRC works out trading points and non-profit trading income

You can find out how HMRC will work out your trading profits and non-trading income if you’re self-employed or a member of a partnership and have made a claim for the SEISS on the gov.uk website.

You may also find our story, ‘Income tax and National Insurance will be applied to SEISS grants’ helpful. 

Please don’t hesitate to get in touch with PKB if you have any questions or need help with the SEISS. Alternatively, have a read of some of our story, ‘Self-employed to get second grant from government.’

 

To read news and blogs from Rebecca Austin, click here >>

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