How to claim self-employment income support

August 15, 2020 - 5 minutes read

From 17 August the Self-Employment Income Support Scheme will open for claims for a second and final grant.

You will be able to claim at any time from 17 August until the scheme closes on 19 October. Please do not try to claim before this date as you will not be able to access the service online or over the phone

The eligibility criteria remain the same as for the first grant. You will need to confirm your business has been adversely affected by coronavirus (COVID-19) at any time since 14 July.

This typically means that your business has experienced lower income and/or higher costs because of coronavirus (COVID-19) at any time since 14 July.

As the person who knows your business best, we expect you to make an honest assessment about whether it has been adversely affected. There is no minimum threshold over which your business’s income or costs need to have changed. You will need to keep a record of evidence of how your business has been adversely affected.

For full details visit GOV.UK and search ‘Self-Employment Income Support Scheme’.

The second taxable grant is worth 70 per cent of your average monthly trading profits, paid out in a single instalment. This will be based on three months’ worth of profits and capped at £6,570.

How to claim

Search GOV.UK for ‘Self-Employment Income Support Scheme’. Claiming online is the quickest and easiest way to get your grant

Like the first grant, you’ll need the following to confirm your eligibility and make your claim:

  1. National Insurance number – if you don’t know this, go to the HMRC app, your online tax account or ask your tax agent (if you have one)
  2. Self-Assessment Unique Taxpayer Reference (UTR) number – you can find this on your Self-Assessment papers or from your agent
  3. Government Gateway user ID and password – if you don’t have an account, or have forgotten your details, follow the instructions on GOV.UK by searching for the ‘self-employment income support scheme’. Please check your contact details are correct in your Government Gateway account.
  4. Your bank account number and sort code. For a building society account, please include the roll number if you have one.

Hmrc will also ask for the address your bank or building society account is registered to. Please note this is your address, most likely your home or business premises – not the address of your bank or building society.

Hmrc will use the information you have provided in your previous tax returns to calculate the grant you’re entitled to.

Once you have completed your claim and Hmrc have verified it, we’ll pay the money directly into your bank account within six working days.

Eligible Parents

Self-employed parents whose income may have been affected if they took time out to have children will also now be able to claim if they meet the eligibility criteria. There’s more information for new parents, including an online form on GOV‌.UK

Support with your claim

It’s important that you make this claim yourself, although you can ask a friend, family member, accountant or tax agent to help you. Please don’t pass on any of your information to people who offer to make a claim on your behalf. That will lead to delays in your payment.

Please claim online. It’s quicker and easier than by phone and only takes 5 minutes using your Government Gateway account. It also means Hmrc can use their phone lines to support people who aren’t able to go online to make their claim. Please only call Hmrc if you cannot find the support you need on GOV.UK or our webchat service – this will leave their lines open for those who need Hmrc’s help the most.

Contact MCL Accountants Southend today on 01702 593 029 to optimise your tax position or if you need any assistance with your self-employment income support grant.