On May 4, the HMRC announced that it has begun contacting self-employed people who might be eligible for the 80% Self-employment Income Support Scheme – SEISS as a result of the COVID-19 crisis.
Are you eligible? Let’s see…
Who can claim the 80% grant ?
You can claim the 80% GRANT if you’re a self-employed individual or a member of a partnership and you:
- have submitted your Self Assessment tax return for the tax year 2018 to 2019
- traded in the tax year 2019 to 2020
- are still trading when you applied, except for Coronavirus affected period
- intend to continue to trade in the tax year 2020 to 2021
- have lost trading profits due to Coronavirus pandemic
What amount will you get from the SEISS ?
You will receive a taxable grant that will represent 80% of the average profits in the following tax years (if applicable):
– 2016 – 2017
– 2017 – 2018
– 2018 – 2019
In order to calculate the average trading profits, HMRC will add together your total trading profits or losses for the 3 tax years then divide by 3.. The amount received will not exceed £2,500 per month, and this grant will be paid into your account in a single instalment.
How to apply
At the moment applications can only be made online from your HMRC account. Applications will open in stages between May 13-18. The first step is to establish your online eligibility on gov.uk. Later you will know if you are eligible and from which date you can apply. After the application is made, if HMRC has all your correct details, you will receive the money within 6 days.
Beware of scammers!
Please note that to avoid fraud, HMRC emails and SMS messages do not include active links. If you receive an email or SMS claiming to come from HMRC that includes an active link, that email or SMS is a scam.
How can we help you?
- We assist you in every step of the process so you will receive the money in your account in 6 days without any problem.
- We make sure that HMRC has all your details correct
- If you do not have a username and password for your HMRC account, we will help you create one.
- If you have a username and password but have lost it and your account is being scammed, we will help you reset your username and password and regain control of your HMRC account. If you do not reset your username and password, charlatans will apply for the grant on your behalf and will receive your money in their bank account.
How to start?
Simple! Contact us and we will assist you with everything you need to receive the grant without any problem.