How to apply for SEISS (Self Employed Income Support Scheme) opens 8am 13th May

Further to the announcement of SEISS for the self employed on 14 April 2020, HMRC have now provided an online eligibility checker for those wanting to seek confirmation. HMRC also collate the profit figures to determine the amount of grant.

You will need your UTR and National Insurance number to check your eligibility.

The claims can be made online from 8am 13 May 2020.

To make the claim you will need to have an online account with HMRC and also bank details (you must be able to receive a BACS payment).

HMRC will check claims and take appropriate action to withhold or recover payments found to be dishonest or inaccurate.

You’ll have to confirm to HMRC that your business has been adversely affected by coronavirus.

If you claim the grant HMRC will treat this as confirmation you’re below the state aid limits.

There have been tax payers who put their details in to be informed they weren’t eligible on Monday (when it first launched) have rechecked since and the system has now said they are eligible by launch day all accounts should be correct first time of checking.

DO NOT FORGET THE FOLLOWING

You will need to report the grant:

  • on your Self Assessment tax return

  • as self-employed income for any Universal Credit claims

  • as self-employed income and that you’re working 16 hours a week for any tax credits claims

If you aren’t eligible for SEISS there is an option to ask for a ‘review’, for example - this may be because you have taken parental leave or your tax return is late/under enquiry.

Who can claim

You can claim if you’re a self-employed individual or a member of a partnership and:

  • you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year

  • you traded in the tax year 2019 to 2020

  • you intend to continue to trade in the tax year 2020 to 2021

  • you carry on a trade which has been adversely affected by coronavirus

Your business could be adversely affected by coronavirus if, for example:

  • you’re unable to work because you:

    • are shielding

    • are self-isolating

    • are on sick leave because of coronavirus

    • have caring responsibilities because of coronavirus

  • you’ve had to scale down or temporarily stop trading because:

    • your supply chain has been interrupted

    • you have fewer or no customers or clients

    • your staff are unable to come in to work

What if I am not eligible?

Apply for a ‘review’ - if you do not meet the criteria for SEISS, you can ask HMRC to review your case. Perhaps you took parental leave or your tax return is late/under enquiry. It isn’t clear what HMRC’s review process consists just yet of but it’s a good sign they have a ‘review’ option. To get a ‘review’ you will also need to let HMRC gain access to your affairs with an online HMRC account.

UTR can be found on HMRC correspondence, accounting paperwork ie: a tax payment voucher or by checking with your accountant.

It hasn’t been confirmed whether or not outstanding self assessment tax arrears will be considered when payments are made - it hasn’t been publicised which indicates it wont be considered.

Good luck guys! #TaxSwag

Kelly Anstee#TaxSwag