The Government’s world-leading scheme to support the
self-employed has today opened for claims – weeks ahead of
schedule.
From 8am this morning self-employed individuals or members of
partnerships whose business has been adversely affected
by coronavirus will be able to apply for a Self-Employment
Income Support Scheme (SEISS) grant worth 80% of their average
monthly trading profits.
Millions are expected to benefit from the scheme with the
payments – to be paid in a single instalment covering three
months and capped at £7,500 – expected to land in bank accounts
within six working days of each claim.
Everyone eligible for the SEISS, which is one of the most
generous support schemes announced by any government in
response to coronavirus, will be able to receive the government
grant by 25 May, or within six days of a completed claim.
The Chancellor of the Exchequer, , said:
“We’re working ahead of time to deliver support
to the self-employed and from today, applications open for the
millions of people eligible for the scheme.
“With payments arriving before the end of this month,
self-employed across the UK will have money in their pockets to
help them through these challenging times.”
From today, people will be able to make their claim on a
specified date between 13-18 May, based on their Unique Tax
Reference number. HMRC has assigned eligible self-employed
individuals a specific date to apply on and this can be checked
on HMRC’s online checker.
The SEISS it part of a comprehensive package of support for
self-employed people, including Bounce Back loans, income tax
deferrals, rental support, increased levels of Universal
Credit, mortgage holidays and the various business support
schemes the government has introduced to protect businesses
during this time.
Derek Cribb, CEO of IPSE (the Association of
Independent Professionals and the Self-Employed)
said:
“For the self-employed, Coronavirus is not only a health
crisis, but also a pressing income crisis. It is therefore very
welcome that the Government has managed to get this new scheme
in place ahead of schedule, and that a section of the freelance
community can now get the help they need early. We are
delighted that the government has heeded much of IPSE’s advice
by setting up the Self-Employment Income Support Scheme, which
extends a much-needed lifeline to those self-employed people
who are eligible for it.”
Mike Cherry, National Chairman of the Federation of
Small Businesses, said:
“I would encourage all those who think they are eligible to use
the online checker if they’ve not done so yet, and to apply on
the date allocated.
“We are particularly pleased to see the scheme opening earlier
than scheduled, with a simple fast-track application and a
promise for speedy payment. Getting the system designed
and built ahead of schedule is impressive. Just like
the Job Retention Scheme portal we hope it will cope with the
high expected demand. I would like to pay tribute to the
staff of HMRC for the behind the scenes work to get this scheme
off the ground.”
Brian Berry, Chief Executive of the Federation of
Master Builders said:
“The self-employed account for 40% of the construction
workforce so the Government’s decision to bring forward the
payment to the end May will be very welcome news for the many
independent tradespeople who operate in construction. The
Government’s support package to date has been targeted at
businesses so the self-employed will be welcoming this cash
boost at a time when they need it most.”
Further information
-
Individuals are eligible if their
business has been adversely affected by coronavirus, they
traded in the tax year 2019 to 2020, intend to continue
trading, and they:
- earn at least half of their income through self-employment
- have trading profits of no more than £50,000 per year
- traded in the tax year 2018 to 2019 and submitted their
Self Assessment tax return on or before 23 April 2020 for that
year
-
HMRC calculate the amount to be paid
to each eligible claimant based on an average of the tax
returns for 2016/17, 2017/18 and 2018/19.
- Customers have been invited to claim their SEISS grant on a
specified date, from 13 - 18 May. They won’t be able to apply
before their claim date but can make a claim after that day.
- People can check their date using HMRC’s online checker at
any time.
https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference
