The portal opens this week to claim your grant is you are self-employed. This is capped as a taxable lump sum of £7500. Once your claim is approved the money will be in your bank account within 6 working days.
To check whether you are eligible for this grant click here. Directors of limited companies are NOT eligible for the scheme.
This is essentially ‘free’ money for sole traders whose business has been adversely impacted by Coronavirus. You will need to confirm to HMRC that your business has been adversely affected by Coronavirus. This could be because you have been unable to work, or Coronavirus has reduced the demand for your services/products.
We cannot make the claim on your behalf. (And that’s HMRC’s decision, not our decision) But we can help you decide whether you are eligible.
To make the claim you will need some important numbers:
- Your self-assessment unique taxpayer reference number (UTR).
- Your National Insurance Number
Click on this link to go to the portal
HMRC will then tell you if you are eligible, and the date you’ll be able to make your claim from.
If you can claim straight away, then you’ll also need your:
- Government Gateway user ID and password (if you don’t have one of these you will be asked to create a gateway account when you check your eligibility)
- UK bank details including:
- Bank account number
- Sort code
- Name on the account
- Your address linked to your bank account
At the moment we don’t know whether this scheme will be extended.
If you need any help please email jade@1accounts.co.uk
