We provide our clients with regular updates on changes in taxation regulation, news from the world of accounting and, of course, information about the latest developments at MK Tax & Accounting Ltd.

The government is now ready to help the Self Employed with - Self-Employment Income Support Scheme (SEISS)

Please note that this scheme is for the Self Employed – (not for you if you are trading as a Limited Company)

The applications are spread over a few days in order to spread the workload at HMRC

What you need to do now

-Go to point 2 of the link below to check if you are eligible (You need your National Insurance number and UTR (Tax Reference – it’s on your last Tax Return or HMRC letters)

-You will get a date on which you can apply.

-You will need Government Gateway to apply (if you do not have it – you will be able to apply for it at this point)

HMRC will work out the Grant based on average of last 3 years’ income. (but maximum £7,500)

Please keep in mind that this grant is subject to tax and NI.

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#eligible

Updates

Please contact us if you would like to discuss the above update or any other recent changes in accountancy and tax further with us.