This is an important reminder that claims for the second Self Employed coronavirus income support grant must be made on or before 19th October 2020.
For entitled individuals, the grant is worth 70% of taxable profits, up to a maximum of £6570.
To be eligible for the grant, your business must have been affected by Covid-19 on or after 14 July 2020, but otherwise the eligibility criteria are the same as for the first grant which was paid in May and June.
HMRC should have contacted you, probably during August, if their records indicate that you are eligible. However our experience with the first grant was that HMRC did not always contact eligible taxpayers. Therefore if you believe you may be eligible and HMRC have not contacted you, please get in touch so that we can assess the position for you. It is not a requirement to have claimed the first grant.
Claims have been possible since 17 August. However we are aware that some businesses may have concluded then that they were not eligible because business had returned to normal by 14 July. These businesses should consider whether the introduction of additional coronavirus restrictions in recent weeks means that they are now impacted and so are eligible to make a claim.
Self Employment Income Support Extension
The government has also announced an extension to this scheme from 1st November to 30th April 2021, though this will be less generous than the existing scheme. Only limited information is available at the moment and we will keep you updated as more details become known.
Find out more about the Self Employment Income Support Extension
Coronavirus Recovery Grants
We are aware that there are a number of bodies making grants. However, these schemes appear to be opening and closing at very short notice. We have attached a link to the scheme which the Cheshire and Warrington Local Enterprise Partnership is running for businesses in this area. There will be equivalents in other areas (and with different deadlines). It is worth keeping an eye on what might be available in your area and being prepared to apply at very short notice.
Find out more about Coronavirus Recovery Grants
Harts Webinar Series – Success in a Changing Landscape
We continue our series of seven fortnightly interactive webinars to help keep your business agile, proactive and thriving in uncertain times. Each 45-minute sessions, hosted by Steven Glicher and guests, are designed to provide practical, really useful information and the opportunity to discuss any issues raised.
Our next seminar ‘Technology and Your Team’ will be held next Tuesday 13th October. Look out for an Eventbrite invitation, but in the meantime visit our YouTube Channel to view recordings of the previous webinars in the series.
Cheadle Office is Now Open
Our Cheadle office is now open with restricted hours, please contact us before visiting. However, Macclesfield Office remains open normal hours.
Get in Touch
Call us on 01625 669669 or email firstname.lastname@example.org if you have any queries about topics covered above or to find out more about our services at Harts. Please follow us on LinkedIn for up to date information.
The team at Harts