The Self Employment Income Support Scheme is a Government initiative that has been put in place to support the self employed during the Coronavirus pandemic. Under the scheme, businesses who have been negatively impacted as a result of the pandemic can claim a taxable grant of 80% of your average trading profits up to £2,500 per month, for 3 months. The payment will be made in a single instalment.
5th May 2020
Applications for the self employment scheme are now open.
Check your eligibilityBusinesses wishing to apply for the scheme will first need to check their eligibility using the government eligibility checker, if you have not been contacted directly by HMRC already.
ApplicationIf you are eligible for the scheme, you will be provided a date between 13th and 18th May for when you can apply. Applications cannot be made before your given date, but can be made after it if you do not complete the application on your designated day. The eligibility checker went live on the 5th May with the scheme opening for businesses to apply from Wednesday 13th May 2020.
When completing your application you must do this yourself – accountants or agents cannot process the application on your behalf. If your accountant or agent has already completed your application on your behalf this could lead to delay in the grant being issued. For more information contact HMRC.
Claim processing timelineClaims submitted will then take up to 6 working days to be processed from the date of your application and paid directly into your account.
At Sage we have a range of support tools available to you and your business during this time. For the Self Employment Scheme you can read our guide and FAQ documents to give you all of the information you will need to get your business ready to apply. For more information on the financial support available to your business and the tools Sage have to help you during this time select one of the options below.
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