Claims for the Second Self Employed Income Support Scheme Grant open soon

If you were eligible for the first Self Employed grant and can confirm to HMRC that your business has been adversely affected by Covid-19 on or after 14th July 2020, you will be able to make a claim for a second and final grant from 17th August 2020.
This second and final grant is sightly less than the first grant at 70% of your average profit in the 3 years ended 5th April 2019 (3 months worth), capped at £6,570 in total.
You can make a claim for the second grant if you are eligible, even if you did not make a claim for the first grant. Claims must be made by 19th October 2020.
Your business could be adversely affected by coronavirus if for example you are shielding or self-isolating, you have caring responsibilities because of coronavirus or if you have had to scale down, temporarily stop trading or incurred additional costs because of issues with your supply chain, lost customers, staff unable to come in to work, contracts cancelled or you had to buy protective equipment so you could trade following social distancing rules.
You must keep evidence to confirm your business was adversely affected at the time you made your claim.
All of the following must also apply:
– 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
You cannot claim the grant if you trade through a limited company or a trust.
Please feel free to contact me if you need assistance with claiming.

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