You are herded into the self-employed category if you (either on your own or together with others) run your own business and do so outside of a limited liability structure. It doesn’t matter how big or small your business is and whether or not you need to employee anybody. If you fit within this definition it is possible that there is a grant available to you under the Self-Employed Income Support Scheme.
And just for clarity, who doesn’t it include?
-Directors of limited companies (in their role within the company) are not self employed.
-Owners of property portfolios
But it does include a great number of people, including;
-Members of a trading partnership
-Sub-contract builders or tradespeople
-Associate dentists or chiropractors
The scheme is not entirely dissimilar to that available to employers who put employees into furlough (you could be one of these too). The similarity being that you are eligible for 80% of your taxable income, up to a maximum of £50k. However, what is massively annoying is that, if you earn over £50k you are not eligible for even a brass razoo.
The grant is capped at £2,500 per month and is the lower of that amount, or 80% of your taxable profits.
There is a very useful link to help you calculate your taxable income here
Do you qualify?
Importantly, and perhaps the thrust of this article, is that there is a very useful link that will confirm whether you do or do not qualify – here’s the link
It will tell you the specific time and day that you can apply from;
But note, we are prevented from applying on your behalf as agents
What will you need?
You will need a number of things to make the claim, most notably
-Your Government Gateway user ID and password
-Bank account details.
Once you have submitted your claim, you’ll be told straight away if your grant is approved. The Grant will be paid into your bank account within 6 working days.
So, for example…. Apply at 8am on 13th May, be approved there and then and the grant will be paid into your account by 21st May (or earlier).
Full details can be found here
Government Gateway user ID
Making sure you have your Government Gateway user ID and password; we do not have access to this and are not able to obtain it on your behalf. It is likely you will have set one up a while back, and some of you may not have set one up at all. Details on how to recover it (or create one) can be found here.
Good luck, it looks like the onus is on you to find your way through the maze, but we will, of course, help where we are able.
My contact details
-Landline – 01326 660022
-Mobile/WhatsApp/Text – 07779799995 – Mike Hutchinson
-Zoom ID – 205 677 7765 – Mike Hutchinson