Self-employment Income Support Scheme

What is it?

The scheme currently allows you to claim a taxable grant worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.

This scheme is being extended. If you’re eligible for the second and final grant, and your business has been adversely affected on or after 14 July 2020 you’ll be able to make a claim in August 2020. You can claim for the second grant even if you did not make a claim for the first grant. Find out more about the extension to the scheme.

Am I eligible?

Check if you can claim a grant through the Self-Employment Income Support Scheme

Who can claim

You can claim if you’re a self-employed individual or a member of a partnership and all of the following apply:

• you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
• you traded in the tax year 2019 to 2020
• you intend to continue to trade in the tax year 2020 to 2021
• you carry on a trade which has been adversely affected by coronavirus

Your business could be adversely affected by coronavirus if, for example:

• you’re unable to work because you:
  • are shielding
  • are self-isolating
  • are on sick leave because of coronavirus
  • have caring responsibilities because of coronavirus
• you’ve had to scale down or temporarily stop trading because:
  • your supply chain has been interrupted
  • you have fewer or no customers or clients
  • your staff are unable to come in to work

Find examples of when the ‘adversely affected’ criteria will be met.

You should not claim the grant if you’re a limited company or operating a trade through a trust.

To work out your eligibility we will first look at your 2018 to 2019 Self Assessment tax return. Your trading profits must be no more than £50,000 and at least equal to your non-trading income.

If you’re not eligible based on the 2018 to 2019 Self Assessment tax return, we will then look at the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019.

Find out how we Gov UK work out your eligibility including if theyhave to use other years.

Grants under the Self-Employment Income Support Scheme are not counted as ‘access to public funds’, and you can claim the grant on all categories of work visa.

If your business has been adversely affected by the scheme

Find out if your business has been adversely affected due to coronavirus (COVID-19), examples and what records you need to keep if you make a claim.

Differing circumstances

How different circumstances affect the Self-Employment Income Support Scheme

Calculating trading profits and non-trading income

How HMRC works out trading profits and non-trading income

Overpaying

If you’ve been overpaid, made a claim in error and were not eligible for the grant or would like to make a voluntary repayment, tell HMRC and pay some or all of the grant back.

Information about when you must tell HMRC and pay the grant back has been added, also included details about when you may have to pay a penalty.

Information about what to do if you were not eligible for the grant or have been overpaid has been added.

How do I access it?

Futher information:

The information above is taken from the government’s business support website. Follow this link for government guidance on this scheme >>>