This scheme is for those who are self-employed or a member of a partnership and have lost income due to COVID-19. 

This scheme is to receive a taxable grant worth 80% of profits up to £2,500 for the next 3 months.

You do not apply for this grant, HMRC will contact you.

How to receive this

  • You have submitted your Income Self-Assessment tax return for the tax year 2018-2019.
  • Traded in the 2019-2020 tax year.
  • Trading while you apply, or would be if not for COVID-19
  • Plan on trading in the 2020-2021 tax year
  • Lost trading profits due to COVID-19

Your trading profits must be below £50,000 and at least half of your income must come from self-employment. To decided if you are eligible you must:

  • Have trading profits in the 2018-19 Tax year of less than £50,000 and this must be over half of your taxable income.
  • Have average trading profits of below £50,000 in the 2016-17, 2017-18 and 2018-19 tax years and this must be over half of your taxable income. 

If you started trading between 2016-2019 your average will be taken on either the 1 or 2 years of Self-Assessment tax returns you have filed. 

This grant once approved will be paid into your account in one instalment. 

How to apply

  • HMRC will contact you if you are eligible. You will then apply online. 

After you have applied

Once HMRC receives your application and approves it they will contact you to inform you of how much you will receive and to collect your payment details. 

If you claim tax credits you will need to include this grant in your claim as income.

If you require any assistance when applying, please do not hesitate to contact us on 01384 376964