Business News 10 July

by | Jul 10, 2020 | 0 comments

The deadline for the first round of the Self Employment Income Support Scheme (SEISS) is 13 July 2020. There are 850,000 eligible individuals who have not yet made a claim. If claims are not registered by midnight on 13 July then the opportunity is lost.

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.  HMRC will work out if you’re eligible and how much grant you may get.

If you’re self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) check if you can claim a grant through the Self-Employment Income Support Scheme >>

If you were self employed in 2018/19 and your business is still running and Coronavirus has had a negative impact on your business then you will be eligible.

If you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work, or duties as an armed forces reservist.  The grant does not need to be repaid but will be subject to Income Tax and self-employed National Insurance.

Please share this message far a wide. Pass it on to any self employed contacts and let’s make sure that those eligible make a claim!

Best wishes and stay safe



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