Author: NJB Taxback

1. Is it an 𝟖𝟎% grant 𝐢𝐧 𝐭𝐨𝐭𝐚𝐥? – 𝐍𝐨, 𝐢𝐭𝐬 𝐢𝐬 𝐚 𝐭𝐨𝐭𝐚𝐥 𝐨𝐟 𝟓𝟓%.

(it is made up of two months at 40% and the November month at 80%)

We shall provide updated 55% SEISS Grant calculators on our site later on this week.

2. 𝐖𝐡𝐞𝐧 does the claims window open? – The Online claims window opens on the 𝟑𝟎𝐭𝐡 𝐨𝐟 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟎

3. 𝐖𝐡𝐨 can claim? – Those who are trading but are impacted by 𝐫𝐞𝐝𝐮𝐜𝐞𝐝 𝐝𝐞𝐦𝐚𝐧𝐝 (for example lack of work, less opportunity to work (no home visits etc.)

𝐀𝐥𝐬𝐨, those who were trading but are temporarily unable to do so, this is a little bit of a grey sentence as it can cover a vast range of circumstances. If you were working but cant temporarily, you can claim.

All other criteria are the same as it was for the first and second grants, 𝐲𝐨𝐮 𝐦𝐮𝐬𝐭 𝐡𝐚𝐯𝐞 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐝 𝐚𝐧 𝟏𝟖.𝟏𝟗 𝐫𝐞𝐭𝐮𝐫𝐧 𝐭𝐨 𝐛𝐞 𝐞𝐥𝐢𝐠𝐢𝐛𝐥𝐞.

4. Are these 𝐠𝐫𝐚𝐧𝐭 𝐭𝐚𝐱𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞? – 𝐘𝐞𝐬, just as the first two were.

5. Will this 𝐠𝐫𝐚𝐧𝐭 𝐫𝐞𝐝𝐮𝐜𝐞 𝐜𝐥𝐚𝐢𝐦𝐬 𝐟𝐨𝐫 𝐮𝐧𝐢𝐯𝐞𝐫𝐬𝐚𝐥 𝐜𝐫𝐞𝐝𝐢𝐭? – 𝐘𝐞𝐬, universal credit is an income-based benefit, and these grants are income-based support. More info: http://bit.ly/MSE-UC-Claim

𝐌𝐨𝐫𝐞 𝐮𝐬𝐞𝐟𝐮𝐥 𝐥𝐢𝐧𝐤𝐬 𝐚𝐧𝐝 𝐫𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬:

http://bit.ly/HMRC-SEISS-GUIDE

http://bit.ly/MSE-Covid-19-SEISS

https://bit.ly/NJB-COVID-GUIDE

𝐌𝐓𝐃 𝐟𝐨𝐫 𝐈𝐧𝐜𝐨𝐦𝐞 𝐭𝐚𝐱, 𝐁𝐢𝐠 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 𝐚𝐫𝐞 𝐜𝐨𝐦𝐢𝐧𝐠

http://bit.ly/NJB-MTD

https://bit.ly/MTD-Survival-Guide

https://bit.ly/HMRC-MTD-Guide

https://bit.ly/NJB-Starling-Free-Business-Account

*********** 𝐓𝐡𝐞 𝐂𝐡𝐚𝐧𝐜𝐞𝐥𝐥𝐨𝐫 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 𝐚𝐧 𝐮𝐩𝐝𝐚𝐭𝐞𝐝 𝐬𝐞𝐥𝐟-𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐩𝐚𝐜𝐤𝐚𝐠𝐞 𝐥𝐚𝐭𝐞𝐫 𝐨𝐧 𝐭𝐨𝐝𝐚𝐲. ***************

The self-employment support scheme has been extended, and an additional two grants will be available to the self-employed.
Grant 3:

• When can I apply? 𝐓𝐡𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐟𝐨𝐫 𝐜𝐥𝐚𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐩𝐞𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝟏𝟒𝐭𝐡 𝐨𝐟 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫.
  HMRC will provide full details about claiming and applications in guidance on GOV.UK in due course.
• What period does it cover? 𝐓𝐡𝐢𝐬 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐩𝐞𝐫𝐢𝐨𝐝 𝐟𝐫𝐨𝐦 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟏𝐬𝐭 𝟐𝟎𝟐𝟎 𝐮𝐧𝐭𝐢𝐥 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟑𝟏𝐬𝐭 𝟐𝟎𝟐𝟏.
• How much can you get? A lump sum covering 40% of three months’ worth of average monthly profits up to a total of £3,750
  
  Full post:
  https://www.facebook.com/24HRTAXREBATES/posts/967106107107403
  
  • You can also apply for and get universal credit (SEISS doesn’t make you ineligible). If you can wait, in some cases it could be worth delaying your SEISS application to maximise your universal credit award.
  We have all the details in our Coronavirus Universal Credit & Benefits guide. http://bit.ly/MSE-UC-Claim
  
  • 𝐘𝐨𝐮 𝐜𝐚𝐧 𝐜𝐥𝐚𝐢𝐦 𝐭𝐡𝐞 𝐠𝐫𝐚𝐧𝐭𝐬 𝐨𝐧 𝐭𝐨𝐩 𝐨𝐟 𝐥𝐨𝐜𝐚𝐥 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬.
  http://bit.ly/MSE-LLD
  
  𝐓𝐡𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐟𝐨𝐫 𝐜𝐥𝐚𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐩𝐞𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝟏𝟒𝐭𝐡 𝐨𝐟 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫.
  
  𝐌𝐨𝐫𝐞 𝐮𝐬𝐞𝐟𝐮𝐥 𝐥𝐢𝐧𝐤𝐬 𝐚𝐧𝐝 𝐫𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬:
  http://bit.ly/MSE-Covid-19-SEISS
  https://bit.ly/NJB-COVID-GUIDE
  𝐌𝐓𝐃 𝐟𝐨𝐫 𝐈𝐧𝐜𝐨𝐦𝐞 𝐭𝐚𝐱, 𝐁𝐢𝐠 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 𝐚𝐫𝐞 𝐜𝐨𝐦𝐢𝐧𝐠
  http://bit.ly/NJB-MTD
  https://bit.ly/MTD-Survival-Guide
  https://bit.ly/HMRC-MTD-Guide
  https://bit.ly/NJB-Starling-Free-Business-Account

𝐓𝐡𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐟𝐨𝐫 𝐜𝐥𝐚𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐩𝐞𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝟏𝟒𝐭𝐡 𝐨𝐟 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫

The self-employment support scheme has been extended, and an additional two grants will be available to the self-employed.

Grant 3:

– When can I apply? 𝐓𝐡𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐟𝐨𝐫 𝐜𝐥𝐚𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐩𝐞𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝟏𝟒𝐭𝐡 𝐨𝐟 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫. HMRC will provide full details about claiming and applications in guidance on GOV.UK in due course.

-What period does it cover? 𝐓𝐡𝐢𝐬 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐩𝐞𝐫𝐢𝐨𝐝 𝐟𝐫𝐨𝐦 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟏𝐬𝐭 𝟐𝟎𝟐𝟎 𝐮𝐧𝐭𝐢𝐥 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟑𝟏𝐬𝐭 𝟐𝟎𝟐𝟏.

– How much can you get? A lump sum covering 40% of three months’ worth of average monthly profits up to a total of £3,750

• The 𝐞𝐥𝐢𝐠𝐢𝐛𝐢𝐥𝐢𝐭𝐲 criteria 𝐢𝐬 𝐬𝐭𝐫𝐢𝐜𝐭𝐞𝐫 for this grant.

To be eligible, you must declare your business has been impacted by 𝐑𝐄𝐃𝐔𝐂𝐄𝐃 𝐃𝐄𝐌𝐀𝐍𝐃 due to Covid-19 in the qualifying period. (November 1st 2020 and the date of your claim)

This differs from the first and second grants, where any adverse impact due to Covid-19 would mean you qualified for the scheme.

This means you can 𝐍𝐎 𝐥𝐨𝐧𝐠𝐞𝐫 𝐦𝐚𝐤𝐞 𝐚 𝐜𝐥𝐚𝐢𝐦 𝐟𝐨𝐫 𝐬𝐞𝐥𝐟-𝐢𝐬𝐨𝐥𝐚𝐭𝐢𝐧𝐠 𝐨𝐫 𝐬𝐡𝐢𝐞𝐥𝐝𝐢𝐧𝐠, which would have made you eligible for grant one and grant two.

𝐀𝐥𝐥 𝐭𝐡𝐞 𝐨𝐭𝐡𝐞𝐫 𝐞𝐥𝐢𝐠𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐜𝐫𝐢𝐭𝐞𝐫𝐢𝐚 𝐟𝐨𝐫 𝐭𝐡𝐢𝐬 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐫𝐞𝐦𝐚𝐢𝐧𝐬 𝐭𝐡𝐞 𝐬𝐚𝐦𝐞 𝐚𝐬 𝐠𝐫𝐚𝐧𝐭𝐬 𝐨𝐧𝐞 𝐚𝐧𝐝 𝐭𝐰𝐨.

• You must have filed a tax return for 2018/19.

• You must earn more than 50% of your total income from self-employment.

• Your average trading profit must be less than £50,000/year.

• You 𝐂𝐀𝐍 keep working if you claim the grant.

• You don’t need to have applied for an earlier grant to get the others

• You can also apply for and get universal credit (SEISS doesn’t make you ineligible). If you can wait, in some cases it could be worth delaying your SEISS application to maximise your universal credit award.

We have all the details in our Coronavirus Universal Credit & Benefits guide. http://bit.ly/MSE-UC-Claim

• You must be actively trading and intend to continue to trade.

• 𝐘𝐨𝐮 𝐜𝐚𝐧 𝐜𝐥𝐚𝐢𝐦 𝐭𝐡𝐞 𝐠𝐫𝐚𝐧𝐭𝐬 𝐨𝐧 𝐭𝐨𝐩 𝐨𝐟 𝐥𝐨𝐜𝐚𝐥 𝐥𝐨𝐜𝐤𝐝𝐨𝐰𝐧 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬.

http://bit.ly/MSE-LLD

The 𝐠𝐫𝐚𝐧𝐭𝐬 𝐚𝐫𝐞 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱 𝐚𝐧𝐝 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧𝐬.

𝐇𝐨𝐰 𝐜𝐚𝐧 𝐈 𝐜𝐥𝐚𝐢𝐦?

𝐓𝐡𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐟𝐨𝐫 𝐜𝐥𝐚𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐩𝐞𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝟏𝟒𝐭𝐡 𝐨𝐟 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫. HMRC will provide full details about claiming and applications in guidance on GOV.UK in due course.

The period the grant covers is not the date on which claims open, just because the third grant covers a period starting from November 1st.

That does 𝐧𝐨𝐭 mean applications to claim will open on the 1st of November.

𝐓𝐡𝐞𝐫𝐞 𝐢𝐬 𝐧𝐨 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐟𝐨𝐮𝐫𝐭𝐡 𝐠𝐫𝐚𝐧𝐭 𝐲𝐞𝐭 𝐞𝐱𝐜𝐞𝐩𝐭 𝐭𝐡𝐚𝐭 𝐢𝐭 𝐰𝐢𝐥𝐥 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐩𝐞𝐫𝐢𝐨𝐝 𝐟𝐫𝐨𝐦 𝟏 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝐮𝐧𝐭𝐢𝐥 𝐭𝐡𝐞 𝟑𝟎𝐭𝐡 𝐨𝐟 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟏.

𝐓𝐡𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐟𝐨𝐫 𝐜𝐥𝐚𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐠𝐫𝐚𝐧𝐭 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐨𝐩𝐞𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝟏𝟒𝐭𝐡 𝐨𝐟 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫

𝐌𝐨𝐫𝐞 𝐮𝐬𝐞𝐟𝐮𝐥 𝐥𝐢𝐧𝐤𝐬 𝐚𝐧𝐝 𝐫𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬:

http://bit.ly/MSE-Covid-19-SEISS

https://bit.ly/NJB-COVID-GUIDE

𝐌𝐓𝐃 𝐟𝐨𝐫 𝐈𝐧𝐜𝐨𝐦𝐞 𝐭𝐚𝐱, 𝐁𝐢𝐠 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 𝐚𝐫𝐞 𝐜𝐨𝐦𝐢𝐧𝐠

http://bit.ly/NJB-MTD

https://bit.ly/MTD-Survival-Guide

https://bit.ly/HMRC-MTD-Guide

https://bit.ly/NJB-Starling-Free-Business-Account

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SEISS – the Government grant to self-employed individuals whose businesses have been adversely affected by the coronavirus.

The Government’s Self-Employment Income Support Scheme will be extended and will pay out a second & final grant.

Applications for the second SEISS Grant are due to open on August the 17th.

You will have to confirm your business has been adversely affected on or after the 14th July 2020 on the application.

Here are useful examples of when you would be ‘adversely affected’

This will be the final grant from the self-employment income support scheme. (SEISS)

You must make the claim yourself.

Your tax agent or financial adviser must not claim on your behalf as this will trigger a fraud alert.

You can apply for the Second Grant in the same way you applied for the first.

Those eligible will be able to claim the final grant in August, which will be worth up to 70% of their average monthly net profits, though it’s capped at £6,570 overall. 

Your net profit is your total income minus your total expenses, if you claimed a substantial tax rebate, you would have lower net profits, than someone on a similar income who received less of a tax rebate. 

The final Grant will be paid out in one single instalment.

Use Our Calculators to check your estimated Grant payments.

You can use our “First payment” calculator to estimate your second grant based on the amount of your first grant. 

Use Our Calculators to check your estimated Grant payments.

You can use our Annual net profits calculator to estimate both grants based on your net profits.

The eligibility criteria are the same for both grants, and you don’t need to have claimed the first grant to apply for the second grant. 

Here’s what you need to know about the second and final grant.

If you’re eligible for the scheme, you can apply here on the 17th of August.

Full information on eligibility criteria for the scheme can be found in this guide Coronavirus Self-Employed & Small Limited Company Help, but in brief:

• Your average trading profit must be less than £50,000/year. This is essentially a ‘cliff-edge’ requirement – so those whose average annual trading profit is more than £50,000 (to be specific, £50,000.01 and above) won’t be able to get any support from this scheme.

• You must earn more than 50% of your total income from self-employment. This must have been the case for either your 2018/19 tax return or, if not, the average of your 2016/17, 2017/18 and 2018/19 tax returns. Income from property, dividends, savings, pensions and taxable benefits all count as “non-trading income” and qualify for the SEISS. The total of these combined must NOT exceed 50% of your total income. For more information on which benefits count as “taxable income”, see our full list here.

• Grants are based on your profits over three tax years. They are based on an average of the tax returns for 2016/17, 2017/18 and 2018/19.

• You must have filed a tax return for 2018/19. This means you must have been self-employed prior to 6 April 2019. The last possible moment to file a 2018/19 tax return was Thursday 23 April (the deadline had been extended from 31 January 2020). If you only had a few months’ self-employment on your 2018/19 return, this will be counted as your total profit for the year – the Government won’t pro-rata it based on your monthly profits.


We still do not have your Gov. login account details, we use an Accountants gateway!

Useful links and sources:

Examples of Adversely affected:
https://www.moneysavingexpert.com/news/2020/06/i-am-self-employed-but-confused-about-whether-i-can-claim-my-bus/

Eligibility Checker:
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

Claim the Grant:
https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme

Details of Extension:
https://www.gov.uk/government/news/chancellor-extends-self-employment-support-scheme-and-confirms-furlough-next-steps

Full Guide:
https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/

Benefit Guide:
https://www.moneysavingexpert.com/news/2020/04/benefits-help-coronavirus/#benefits

Detailed Guide:
https://www.rossmartin.co.uk/covid-19/4632-covid-19-proposed-statutory-self-employment-pay-scheme

Our Blog:
https://blog.njb-taxback.co.uk/

We still do not have your Gov. login account details, we use an Accountants gateway!

The GovernmentThe Government’s Self-Employment Income Support Scheme will be extended and will pay out a final grant.

This will be the final grant from the self-employment income support scheme. (SEISS)

Applications for the second grant will open in August, you will have to confirm your business has been adversely affected on or after 14 July 2020 on the application.

The Second Grant, which comes in August, is for those whose business was impacted by Covid-19 on or after 14 July. 

The first grant is for those whose business was impacted by Covid-19 before 13 July. 

If your business has been impacted both before and after the dates, you may apply for both Grants.

Those eligible will be able to claim the final grant in August, which will be worth up to 70% of their average monthly net profits, though it’s capped at £6,570 overall. 

Your net profit is your total income minus your total expenses, if you claimed a large tax rebate, you will have lower net profits, than someone on a similar income who received less of a tax rebate. 

The final Grant will be paid out in one single instalment.

Use Our Calculators to check your estimated Grant payments.

You can use our “First payment” calculator to estimate your second grant based on the amount of your first grant. 

You can use our Annual net profits calculator to estimate both grants based on your net profits.

Use Our Calculators to check your estimated Grant payments.

The eligibility criteria are the same for both grants, and you don’t need to have claimed the first grant to receive the second grant.

Here’s what you need to know about the second and final grant. 

Here’s what you need to know about the first grant

SEISS – the Government grant to self-employed individuals whose businesses have been adversely affected by coronavirus – opened for applications on Wednesday 13 May. 

It initially covered three months (March, April and May) and the grants were worth up to 80% of profits, capped at £2,500 per month, or £7,500 in total. 

If you’re eligible for the scheme you can still apply for this first grant, but the Government’s now said that you’ll need to do so by Monday 13 July.

Full information on eligibility criteria for the scheme can be found in this guide Coronavirus Self-Employed & Small Limited Company Help, but in brief:

• Your average trading profit must be less than £50,000/year. This is essentially a ‘cliff-edge’ requirement – so those whose average annual trading profit is more than £50,000 (to be specific, £50,000.01 and above) won’t be able to get any support from this scheme.

• You must earn more than 50% of your total income from self-employment. This must have been the case for either your 2018/19 tax return or, if not, the average of your 2016/17, 2017/18 and 2018/19 tax returns. Income from property, dividends, savings, pensions and taxable benefits all count as “non-trading income” and qualify for the SEISS. The total of these combined must NOT exceed 50% of your total income. For more information on which benefits count as “taxable income”, see our full list here.

• Grants are based on your profits over three tax years. They are based on an average of the tax returns for 2016/17, 2017/18 and 2018/19.

• You must have filed a tax return for 2018/19. This means you must have been self-employed prior to 6 April 2019. The last possible moment to file a 2018/19 tax return was Thursday 23 April (the deadline had been extended from 31 January 2020). If you only had a few months’ self-employment on your 2018/19 return, this will be counted as your total profit for the year – the Government won’t pro-rata it based on your monthly profits.

We still do not have your Gov. login account details, we use an Accountants gateway!

Useful links and sources:

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

https://www.gov.uk/government/news/chancellor-extends-self-employment-support-scheme-and-confirms-furlough-next-steps

https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/

https://www.moneysavingexpert.com/news/2020/05/government-s-self-employment-support-scheme-extended-and-furloug/

https://www.rossmartin.co.uk/covid-19/4632-covid-19-proposed-statutory-self-employment-pay-scheme

We still do not have your Gov. login account details, we use an Accountants gateway!

The Government’s Self-Employment Income Support Scheme will be extended and will pay out another single grant covering three months, the Chancellor has announced. 

He also said this will be the final grant from the self-employment 
scheme.

Those eligible for the Self-Employment Income Support Scheme (SEISS) will be able to claim the additional grant in August, which will be worth up to 70% of their average monthly net profits, though it’s capped at £6,570 overall. 

The money will again be paid out in a single instalment covering June, July and August.

Your Net profit is your total income minus your total expenses, if you claimed a large tax rebate, you will have lower net profits, than someone on a similar income who received less of a tax rebate. 

Use Our Calculators to check your estimated Grant payments.

You can use our first calculator to estimate your grants based on your net profits.

You can use our second calculator to estimate your second grant based on the amount of your first grant. 

Use Our Calculators to check your estimated Grant payments.

SEISS – the Government grant to self-employed individuals whose businesses have been adversely affected by coronavirus – opened for applications on Wednesday 13 May. 

It initially covered three months (March, April and May) and the grants were worth up to 80% of profits, capped at £2,500 per month, or £7,500 in total. 

If you’re eligible for the scheme you can still apply for this first grant, but the Government’s now said that you’ll need to do so by Monday 13 July.

Here’s what you need to know about the first grant

Applications for the second and final grant will open in August. 

It’ll be worth 70% of average monthly trading profits, again paid out in a single instalment covering three months’ worth of average profits (June, July and August), though this time it’ll be capped at £2,190 per month, or £6,570 
in total.

The eligibility criteria are the same for both grants, and you don’t need to have claimed the first grant to receive the second grant. 

Here’s what you need to know about the second and final grant.

Full information on eligibility criteria for the scheme can be found in this guide Coronavirus Self-Employed & Small Limited Company Help, but in brief:

• Your average trading profit must be less than £50,000/year. This is essentially a ‘cliff-edge’ requirement – so those whose average annual trading profit is more than £50,000 (to be specific, £50,000.01 and above) won’t be able to get any support from this scheme.

• You must earn more than 50% of your total income from self-employment. This must have been the case for either your 2018/19 tax return or, if not, the average of your 2016/17, 2017/18 and 2018/19 tax returns. Income from property, dividends, savings, pensions and taxable benefits all count as “non-trading income” and qualify for the SEISS. The total of these combined must NOT exceed 50% of your total income. For more information on which benefits count as “taxable income”, see our full list here.

• Grants are based on your profits over three tax years. They are based on an average of the tax returns for 2016/17, 2017/18 and 2018/19.

• You must have filed a tax return for 2018/19. This means you must have been self-employed prior to 6 April 2019. The last possible moment to file a 2018/19 tax return was Thursday 23 April (the deadline had been extended from 31 January 2020). If you only had a few months’ self-employment on your 2018/19 return, this will be counted as your total profit for the year – the Government won’t pro-rata it based on your monthly profits.

Further guidance on the second grant will be published on Friday 12 June.

We still do not have your Gov. login account details, we use an Accountants gateway!

Useful links and sources:

https://www.gov.uk/government/news/chancellor-extends-self-employment-support-scheme-and-confirms-furlough-next-steps

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/

https://www.moneysavingexpert.com/news/2020/05/government-s-self-employment-support-scheme-extended-and-furloug/

https://www.rossmartin.co.uk/covid-19/4632-covid-19-proposed-statutory-self-employment-pay-scheme

*Firstly, we do not have your Gov. login account details, we use an Accountants gateway.*

HMRC have today introduced the online eligibility checker for the Self-Employment Income Support Scheme (SEISS), as well as setting out more criteria for the funding.

Criteria: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#check

Checker: https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference

The eligibility checker does three things:

• Confirms eligibility for the grant

• updates your contact details

• Invites you to create a gov. account to claim online if you haven’t already got one

It does not:

• Tell you how much you will receive

• When you will receive it

By creating an online Gov account, this will no doubt speed up your application process.

If you do not have a Gov account, you can create one using the eligibility checker, this should take you no more than 15 minutes, you will need your UTR and national insurance number, both of which can be found in your NJB TAXBACK online profile.

We can assist in the creation of an account for you, we can only create new accounts for existing clients, and I’m afraid that will incur a non-profit admin fee of £20

Creating a gov account should take us no more than 25 minutes; we can not restore access to previously created accounts.

For us to create your Gov account, we will need a copy of your valid passport photo page, a current utility bill or proof of address would also be helpful.

• We do not have your personal gov gateway information we have an accountants gateway.

HMRC will still be writing out to everyone as discussed, and they will be inviting people to create an online gov account, or if this is not possible, including more information on alternative ways to apply.

We also found this link to be very informative:

https://www.tax.org.uk/policy-and-technical/covid-19/self-employment-income-support-scheme

The information regarding universal credit also seems to back up our theory that universal credit received before the grant will not need to be paid back or reduce the amount you receive.

However, It will certainly reduce any future amounts you receive.

We do not wish to comment further on U.C as there is a lot of different information going around, from a lot of different sources.