News

7th May 2020

Covid-19 Update 7th May 2020

Hello,
 
Self Employed Imcone Support Scheme: 
This is the scheme for the self-employed sole traders and partnerships. The scheme will pay 80% of your average monthly trading profits which covers a 3 month period paid in a single instalment and capped at £7500.
 
More details about the scheme are available on the link below:
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
 
Initially HMRC were planning to roll these grants out in June but they have brought forward the date to mid May. Traders will be given a date from which they can apply between Wednesday 13th May and Monday 18th May. HMRC have allocated the dates randomly to help manage demand on the service.
 
They are advising traders to use their online checker which will allocate the date you may claim from. You will need your 10 digit unique taxpayers reference number (UTR) and your National Insurance number to use the checker. You will also be asked to provide your Government Gateway user ID and password and check that your bank account details are up to date.
 
If you don’t have a Government Gateway account, we recommend you set one up now as the system will be under high load next week and you may struggle to access it. Guidance on how to set up a Government Gateway is available through the SEISS checker and HMRC have advised you won’t need to wait for pin numbers of codes through the post.
 
The SEISS checker is available at:
 https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference
 Have a lovely bank holiday weekend and stay safe.
 
Very best
 
Nick Hunt