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Self employment Income Support Scheme launched

Self-employment Income Support Scheme launched

The Self-employment Income Support Scheme (SEISS) opened for applications at 8am on 13 May 2020. The scheme will provide grants of up to £2,500 per month based on 80% of average profits to qualifying applicants.

HMRC has reiterated that the claim is designed to be made by the claimant directly and that advisers cannot make a claim on behalf of their clients. Instead, qualifying applicants need to make a claim using their own Government Gateway account.

Making a claim under the Self employed Income Support Scheme

Making a claim under the Self-employed Income Support Scheme

As we have written previously, if you are self-employed and qualify for the Self-employment Income Support Scheme you will receive a cash grant from HMRC based on 80% of profits, up to £2,500 per month. The initial grant will be for the three months, from 1 March through to the end of May 2020, but could be extended for a longer period. You can only make a claim if your business has been adversely affected by coronavirus.

Treasury instructions to HMRC re SEISS

Treasury instructions to HMRC re SEISS

On 30 April 2020, HM Treasury published its Direction to HMRC giving statutory footing for the Self-employment Income Support Scheme (SEISS). The document makes it clear that one of the conditions for using the scheme is that the self-employed must have been adversely affected by reason of circumstances arising as a result of coronavirus or coronavirus disease, in order to apply.