Second self-employment grant

Second self-employment grant

HMRC have extended the Self-Employed income support scheme to cover a full and final grant to cover an additional 3 months for sole traders whose businesses are still adversely impacted by COVID19 after 14th July 2020.

It will be calculated exactly the same as the previous grant but will be paying 70% of your average monthly earnings, the grant will pay for three months capped at £6,570.

Claims for the first grant are open until 13th July 2020, then the portal will be open for the second grant once this closes.

It is really important to stress that this grant should only be claimed by sole traders who are still adversely impacted by COVID19 after 14th July 2020. If you are a sole trader and you are back at work fully you should not claim this grant. HMRC will have visibility as to the impact of COVID19 once your tax return has been submitted. HMRC would be within their rights to ask for it back should the feel that a false claim has been made.

Details of the previous grant can be found on the following link.

Carrie Stokes Chartered Accountant

Carrie Stokes Chartered Accountant

I work with directors of limited companies in Shropshire, Staffordshire and the West Midlands giving them a clear and up to date financial picture of their business that they understand. Looking at the numbers, what they mean and how they can be improved to grow their business.

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