This week HMRC will start contacting people who may be eligible for the new Self-Employment Income Support Scheme.
Those who are eligible will be able to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500, paid in a single instalment.
Check if you are eligible to claim for Government Support
You can now use the online tool at https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference to find out if you are eligible to make a claim.
When checking if you are eligible, you will need your Unique Tax Reference (UTR) and your National Insurance number.
If you are eligible, the screen will show you the date on which you can make your claim (the earliest date will be mid-May).
If HMRC tell you that you are not eligible, you can ask HMRC to review their decision. HMRC will be able to look at individual cases from 18th May and explain their decision by the end of May.
How to claim for Coronavirus Support Scheme
The online service you’ll use to claim is not available yet. HMRC will contact you by mid-May if you are eligible, to invite you to claim using the GOV.UK online service. Payment will be made within six working days if your claim is approved.
When you make your claim
You will need your:
- Self Assessment UTR
- National Insurance number
- Government Gateway user ID and password (If you do not have a user ID, you can create one when you check your eligibility online)
- bank account number and sort code you want HMRC to pay the grant into
What will happen next
Once you have submitted your claim, you will be told straight away if your grant is approved. HMRC will pay the grant into your bank account within six working days.
For those who are not eligible
If you aren’t eligible, you may be able to:
- delay VAT payments
- delay your Self Assessment payment on account
- arrange to pay your Self Assessment tax bill in instalments
- get a payment from the Small Business Grant Fund
- get a loan from the Business Interruption Loan Scheme or Bounce Back Loan Scheme
- get Universal Credit
- apply for Employment and Support Allowance (ESA)
- apply for Child Benefit
Don’t fall victim to HMRC scammers
Finally, there has been an increase in scam emails, calls and texts as a result of Covid-19. If someone gets in touch with you claiming to be from HMRC and asks you to click on a link or to give information such as your name or bank details, you should not respond. It is a scam!!
Suspicious emails claiming to be from HMRC should be reported to HMRC by sending them to firstname.lastname@example.org. Texts should be forwarded to 60599.
If have any questions about how your tax and accounts, please do not hesitate to contact us. We are here to help.