Applications for Self-Employment Income Support Scheme opens early

The UK government’s scheme to support the self-employed has today opened for claims – weeks ahead of schedule. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

From 8am this morning self-employed people 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. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

UK government says 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. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

For those who have applied, money is 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. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

@DeesideDotCom @wrexham @MartinSLewis Government Self-Employed Income Support Scheme is already live (8am was the official time stated). Application done in 1 minute & instantly confirms amount of grant. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

— Dan Wayland (@Wayheyland) May 13, 2020 ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The Chancellor of the Exchequer, Rishi Sunak, 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. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Mike Cherry, National Chairman of the Federation of Small Businesses, said: ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“The self-employment income support scheme represents a lifeline for the millions of self-employed people who are expected to qualify. 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.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

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 ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Latest News