HMRC Self-Employed Income Support Scheme - How to Claim

HMRC have now issued further guidance on how to access the self-employed grant, which has been introduced as a result of COVID-19.

The Scheme provides a taxable grant of 80% of average monthly trading profits, paid in a single instalment of up to a total of £7,500.

The link below gives details of how self-employed taxpayers can claim or find out if the are eligible. 

To complete this eligibility check, you’ll need to have your:

  1. National Insurance number
  2. Self Assessment Unique Taxpayer Reference (UTR) number

A reminder of eligibility

You will be eligible to claim the grant if you are self-employed or a member of a partnership and:

  • You carry on a trade which has been adversely affected by coronavirus.
  • 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.

HMRC will firstly look at the profits shown on the submitted 2018/19 tax return to determine whether an individual is eligible. To be eligible, profits must be under £50,000 and must represent at least half of the individual’s taxable income.