HM Gov’t is gearing up to pay out under the Self Employed Income Support Scheme (SEISS); the scheme where HM Gov’t may pay you a grant equivalent to 3 months profits, should you qualify.
So step one is making sure you are eligible. Go to this tool, here, to check. You’ll need your NI number and 10 digit tax reference.
HMRC are sending out emails, texts and letters about this right now. This of course means that there are numerous scams circulating, so be careful. No clicking on links please, as this guarantees that the message is not from HMRC.
If you pass the eligibility check then the tool tells you when you can make your claim, which is typically between 13th and 18th May.
If the tool says you don’t qualify and you think that you do, then let us know.
The actual claim will be via your Government Gateway and the first payments are expected to land by 25th May.
Check to make sure you remember you Gov’t Gateway password. Gov’t Gateway newbies will have to set up a GG portal which can be done quickly from the link above or when you make your claim, but have your passport/drivers licence handy.
HMRC’s calculations of your grant will be presented when you log on to make your claim. Additionally, you’ll be asked:
- to read and accept the eligibility criteria
- to complete declarations, including to confirm that your business has been adversely affected by coronavirus; and
- to supply the bank account details into which you would like your grant to be paid.
Confirming that your business has been adversely affected by coronavirus simply means you’ve had less work. There are no rules about the extent to which you’ve been less busy.
And two final matters.
First up, these grants are taxable and so will reduce Universal Credit claims. The reduction is an eye watering 63% of the grant, unless you have kids in which case the reduction is 63% of the grant to the extent that the grant takes household income over a £512 allowance.
Secondly, HMRC says, ‘your tax agent or adviser cannot make the claim for you. You must make the claim yourself’. We’re not sure what issue they have with us, but of course we’ll assist if you want our help. Your WC SEISS angel is Andy at andy@williscooper.com
