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Self-Employment Income

Self-Employment Income Support Scheme 5th grant

Self-Employment Income Support Scheme a 5th grant covering May 2021 to September 2021 will be open to claims from late July 2021

The grant is taxable and will be paid out in a single instalment.

Guidance for claiming the grant will be available by the end of June 2021.

1. Who can claim

To be eligible for the grant you must be a self-employed individual or a member of a partnership.

1.1 When you must have traded

You must have traded in the tax years:

  • 2019 to 2020 and submitted your tax return on or before 2 March 2021
  • 2020 to 2021

You must either:

  • be currently trading but are impacted by reduced demand due to coronavirus
  • have been trading but are temporarily unable to do so due to coronavirus

1.2 Your tax returns

To work out your eligibility for the fifth grant, we’ll first look at your 2019 to 2020 Self Assessment tax return. Your trading profits must be no more than £50,000 and at least equal to your non-trading income.

If you’re not eligible based on your 2019 to 2020 tax return, we’ll then look at the tax years 2016 to 2017, 2017 to 2018, 2018 to 2019 and 2019 to 2020.

1.3 Deciding if you can claim

You must declare that:

  • you intend to continue to trade
  • you reasonably believe there will be a significant reduction in your trading profits due to reduced business activity, capacity, demand or inability to trade due to coronavirus from May 2021 to September 2021

You must keep evidence that shows how your business has been impacted by coronavirus resulting in less business activity than otherwise expected.

HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits.

Self-Employment Income
Self-Employment Income Support Scheme fifth grant

2. How the Self-Employment Income Support Scheme fifth grant is different

The amount of the fifth grant will be determined by how much your turnover has been reduced in the year April 2020 to April 2021.

We’ll provide more information and support by the end of June 2021 to help you work out how your turnover was affected.

2.1 How much you’ll get

Turnover reduction     How much you’ll getMaximum grant
30% or more80% of 3 months average trading profits£7,500
less than 30%30% of 3 months average trading profits£2,850

3. When you can claim

The online claims service for the fifth grant will be available from late July 2021.

If you’re eligible based on your tax returns, HMRC will contact you in middle of July 2021 to give you a date that you can make your claim from.

new funds to support businesses

Three new funds to support businesses uniquely affected by the COVID-19.

New funds to support businesses uniquely affected by the coronavirus (COVID-19) pandemic will launch this week.

From today, local authorities will start to approach brewers, travel agents and indoor football centres inviting them to claim grants of £10,000 or £25,000. A higher payment of £30,000 will be available to the largest brewers.

Councils will brief around 400 eligible businesses on their potential entitlement and ask them to provide supporting information and bank account details. Owners do not need to apply, or contact the local authority.

Finance Secretary Kate Forbes said:

“We started 2021 in a way none of us envisaged nor wanted, with additional measures in place to limit the spread of the new strain of COVID-19, protect our NHS and save lives.

“These funds recognise the unprecedented challenges that brewers, travel agents and indoor football centres have experienced since March as a result of necessary restrictions.

“We are acutely aware that this support can never compensate for the full impact on business, but we must work within the resources that are available to us, and we continue to respond to the evolving economic challenges arising from the pandemic.”

The Scottish Government has allocated £3 billion in business support since the start of the pandemic on top of support available through the UK Government.

Grants available:

• £10,000 for premises which have a rateable value of up to and including £18,000
• £25,000 for premises which have a rateable value of £18,001 or above
• £30,000 for brewers only operating a property with a rateable value of over £51,000 or production over 5,000HL in 2019

More information on the Brewers Support Fund

More information on Support for Travel Agents

More information on Support for Indoor Football Centres

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