Here at National Holiday & Home Parks Alliance, we have been in contact with Nigel Huddleston’s office on your behalf.
We decided not to press for Nigel’s personal response to our enquiries as we considered this approach irresponsible at this difficult time given his enormous workload.
We are pleased however, to update you with what Chancellor Rishi Sunak’s said today and his proposals under the Self Employed Support Scheme as follows:
“Self-employed people are a crucial part of the UK’s workforce who’ve understandably been looking for reassurance and support during this national emergency.
The package for the self-employed I’ve outlined today is one of the most generous in the world that has been announced so far.
It targets support to those who need help most, offering the self-employed the same level of support as those in work.
Together with support packages for businesses and for workers, I am confident we now have the measures in place to ensure we can get through this emergency together.”
Self-employment Income Support Scheme
Claim a grant through the coronavirus (COVID-19)
Use this scheme if you’re self-employed or a member of a partnership and have lost income due to coronavirus. This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months.
This may be extended if needed.
Who can apply
You can apply if you’re a self-employed individual or a member of a partnership and you:
Your self-employed trading profits must also be less than £50,000 and more than half of your income come from self-employment.
This is determined by at least one of the following conditions being true:
If you started trading between 2016-19, HMRC will only use those years for which you filed a Self-Assessment tax return.
If you have not submitted your Income Tax Self-Assessment tax return for the tax year 2018-19, you must do this by 23 April 2020.
HMRC will use data on 2018-19 returns already submitted to identify those eligible and will risk assess any late returns filed before the 23 April 2020 deadline in the usual way.
How much you’ll get
You’ll get a taxable grant which will be 80% of the average profits from the tax years (where applicable):
· 2016 to 2017
· 2017 to 2018
· 2018 to 2019
To work out the average HMRC will add together the total trading profit for the 3 tax years (where applicable) then divide by 3 (where applicable), and use this to calculate a monthly amount.
It will be up to a maximum of £2,500 per month for 3 months.
We’ll pay the grant directly into your bank account, in one instalment.
How to apply
You cannot apply for this scheme yet.
HMRC will contact you if you are eligible for the scheme and invite you to apply online.
Individuals do not need to contact HMRC now and doing so will only delay the urgent work being undertaken to introduce the scheme.
You will access this scheme only through GOV.UK. If someone texts, calls or emails claiming to be from HMRC, saying that you can claim financial help or are owed a tax refund, and asks you to click on a link or to give information such as your name, credit card or bank details, it is a scam.
After you’ve applied
Once HMRC has received your claim and you are eligible for the grant, we will contact you to tell you how much you will get and the payment details.
If you claim tax credits you’ll need to include the grant in your claim as income.
Other help you can get
The government is also providing the following additional help for the self-employed:
If you are a director of your own company and paid through P.A.Y.E. you may be able to get support using the Job Retention Scheme
Our best wishes and stay well.
Kindest regards to you.
David Prince FCCA