Following the recent announcement of the Government’s Self-Employed Income Support Scheme (launched to provide financial support to self-employed individuals through the coronavirus crisis), we are pleased to confirm that the claims system is now live for eligible taxpayers to begin to submit claims. The claims system has been designed to be as simple as possible for taxpayers to use, with HMRC calculating the amount eligible taxpayers are entitled to based on information already held within their systems.
To make a claim, self-employed individuals must first set up a personal tax account using HMRC’s eligibility checker (please note, you will need your Unique Taxpayer Reference number and National Insurance number to do this). Once this has successfully been completed, you will be allocated a claim window, meaning you can proceed with the application on or after that date.
HMRC have issued a handy step-by-step video guide to walk you through process, which can be found here.
Before making a submission, please be aware that the claim system requires you to declare that your income has suffered as a result of COVID-19. It is likely that there will be subsequent HMRC claw backs if it turns out that this is not the case.
For further advice on accessing this scheme, please contact your usual PM+M representative or get in touch with Wendy Anderson using the button below.
This information is correct as of 15 May 2020. This blog is for general guidance only. Recipients should not act upon any of the information provided without seeking specific professional advice tailored to your circumstances, requirements or needs. Please contact PM+M before making any decisions based on any matters relating to this blog.
