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Covid-19

Coronavirus Self-employment Income Support Scheme

A lot of questions being raised about this year being your first year as self-employed and the grant requires an 18.19 return.

Also regarding the 50% self-employment income.

We firmly believe as do many other accountants, and as was discussed during a BBC question time interview.

HMRC suggested that people with less than 12 months accounts would be looked at based on what they have?

Assuming your 19.20 return is submitted ASAP, then HMRC will have a full set of 12 months accounts to review.

Please remember that this scheme is brand new and the eligibility criteria are based on the 5.3 million self-employed workers as a whole, it is not based on each and every individual case.

As long as you are fair, genuine and can submit a genuine application to be reviewed, we do believe that HMRC will allow some bending of criteria to accommodate.

This scheme is all about fairness and parity, as long as you are fair, you will be fine.

Also regarding the 50% self-employed Income, if you were PAYE for more than 50% of the year, with various different companies, on a ZERO hour contract.

Then this should not be counted towards the 50% self-employment income rule, and you would not eligible for the PAYE net pay scheme.

Again open to interpretation and can always be appealed and reviewed.

There will be 100,000s of people to which this applies, and I am quite confident in saying, you won’t be left out.

To see how much you may be eligible to receive please check out this calculator:

https://njb-taxback.co.uk/help/self_employed_ssp_calculator

For the time being, remain patient, sit tight, stay healthy and stay home.

A Big Thankyou to more than 500,000 people who have come forward as NHS Volunteers.

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