Missing your 2018/19 tax return to claim Self Employment Income Support Scheme?
The Self Employment Income Support scheme is a support package for the self employed in the form is a taxable grant based on 80% of the average of the past three years self employment profits, as per previously submitted tax returns (for clarity, 16/17, 17/18 and 18/19). If you have not yet filed your 2018/19 tax return (which was due on 31st Jan 2020) then HMRC are allowing a 4 week period of grace for submissions so that this income can be taken into consideration.
The grant will pay up to a maximum of £2500 per month, and is classed as taxable income – but you can only access IF you have filed a 19/20 tax return – so if you missed the January deadline, get in touch with us today and we can help get your affairs in order so that you can access the support you need.
In the meantime, you can read more about the scheme here