Covid-19: Support for the Self-Employed
Support for the Self-Employed
Self-Employment Income Support Scheme
The Self-Employment Income Support Scheme (SEISS) is the Government grant scheme for self-employed individuals whose businesses have been adversely affected by coronavirus.
To be eligible for the fourth grant you must be a self-employed individual or a member of a partnership.
The fourth grant will provide a taxable grant calculated at 80% of 3 months’ average trading profits. The fourth grant will be paid out in a single instalment and capped at £7,500 in total.
The online claims service for the fourth grant is now available until 31 May 2021.
The UK government has also announced that there will be a fifth and final grant covering May to September.
You will be able to claim from late July if you are eligible for the fifth grant.
If you owe Self Assessment tax and your bill is less than £30,000 you may be able to pay in monthly instalments.
For any other bills or problems paying, you must contact HMRC to discuss your options. How you contact HMRC depends on what you need to pay.
This guide is also available in Welsh (Cymraeg).
If you cannot pay because of coronavirus (COVID-19)
You may be able to pay your Self Assessment tax in monthly instalments. This includes any delayed (deferred) ‘payments on account’ that were due in July 2020, if you did not pay them at the time.
Contact the HMRC coronavirus (COVID-19) helpline if you cannot pay any other tax bills because of coronavirus.
Reducing your 2020 to 2021 payments on account.
Your Payments on Account are based on your previous year’s tax bill. If your financial situation has been impacted by coronavirus, you may have a reduced tax liability arising for the 2020 to 2021 tax year. You may want to apply to HMRC to reduce your 2020 to 2021 payments on account.
Other support for the self-employed
- Your business may also be eligible to access the Coronavirus Business Interruption Loan Scheme.
- You may be able to claim Universal Credit.
Locally, those who are self-employed in Cheshire and Warrington may be able to access support through:
- Accelerate, which offers fully-funded online training to businesses with less than 50 employees, with courses available in areas including marketing,management and project management.
- Business Growth Programme, which can help your business access fully funded support (in the form of one-to-one meetings, workshops, seminars, masterclasses and more) across a wide range of areas.