The second grant was intended to be the final grant, but now we have a third!
- To be eligible for the third grant, you need to have been eligible for the first and second grant, even if you did not make a claim.
- You must be currently trading, or temporarily unable to do so due to the coronavirus, and intend to continue trading.
- This third grant can be claimed if coronavirus has a new or continuing impact on your business between 1 November 2020 and 29 January 2021. You must keep evidence to support your claim to have been impacted by the virus. You have to make a declaration to this effect as part of the claim process.
- The claim will be made using the taxpayer’s Government Gateway login. Agents will not be able to make the claim on behalf of their clients, however at Redshield we will be able to check the amount of the claim for you. Further details on this scheme can be found by clicking the link below.
- Claims must be made by 29 January 2021
- SCAMS – please be aware that there are email and text scams going round regarding this scheme. We recommend going direct to the gov.uk website rather than clicking on any link you may receive in an email or text.
- You’ll get a taxable grant which will be 80% of the average profits from the 3 tax years (where applicable) ending 5 April 2019 up to a maximum of £7,500.
- All of the Self Employment Income Support Scheme grants must be included in your Self Assessment tax return for 2020/21
Further information can be found at https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme