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Millions of freelancers will be able to apply for grants of up to £ 7,500 starting Wednesday, with payments due within six days, the government said.
The Self-Employment Income Support Plan (SEISS) grant is worth up to 80% of average business earnings for those trapped at home. You can check if you can claim here.
It is the largest direct financial aid package for freelancers and self-employed since the shutdown began, and job loss claims date back to March.
The government has not said whether it will be extended in line with the leave plan that protects 80% of employee wages up to £ 2,500 per month.
Launched at 8 am Wednesday, the process will be handled by HM Revenue & Customs, which has been operating and overseeing the government’s loan schemes and license payments.
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All people eligible for SEISS will be able to receive the government grant before May 25, or within six days of a full claim, he added.
HMRC has already contacted those who can make a claim and can use a unique referral to make their claim.
Derek Cribb, executive director of IPSE (Association of Independent and Self-Employed Professionals), said: “For the self-employed, the coronavirus is not only a health crisis, but also a pressing income crisis.
“We are delighted that the Government has listened to much of IPSE’s advice in establishing the Self-Employment Income Support Plan, which extends a much-needed lifeline for those who are self-employed and eligible for it”.
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Mike Cherry, national president of the Small Business Federation, said: “The self-employment income support scheme represents a lifeline for the millions of self-employed people who are expected to qualify.
“I would encourage all those who think they are eligible to use the online verifier if they have not already done so, to apply on the assigned date.
“We are particularly pleased to see the scheme open earlier than scheduled, with a quick application and a promise of quick payment.”
In an interview with the BBC, Sunak was asked if he would expand the grants, and replied: “We are looking for the best that can be done, but … the reason for this is slightly different in many of those freelancers. They are in sectors that are necessarily closed or have an employer that has reduced their hours.
“It is a slightly different scheme that I was clear at the beginning, but what I would say to those people, millions of those people who are eligible, ahead of schedule, the scheme is already open, they can apply this week, they ‘will receive the emails electronic and will have the same amount of support based on your historical earnings … by the end of the month. “
Who can claim
- People are eligible if their business has been negatively affected by coronavirus, they traded in fiscal year 2019 to 2020, they intend to continue trading and they:
- earn at least half of your income through self-employment
- have business profits of no more than £ 50,000 per year
- negotiated in fiscal year 2018-2019 and filed your self-assessment tax return on or before April 23, 2020 for that year
- HMRC calculates the amount to be paid to each eligible claimant based on an average of the tax returns for 2016/17, 2017/18 and 2018/19.
- Customers have been invited to claim their SEISS grant on a specific date, May 13-18. They will not be able to submit an application before the date of their claim, but they can make a claim after that day.
- People can verify their date using The HMRC online verifier at any time.
- For more information, read the HMRC guide or speak to your tax agent. If you need more help, use the HMRC web chat service or call the Covid-19 helpline at 0800 024 1222.
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