McCoy Business Solutions Ltd
Help for the self employed
More than half of a claimant's income needs to come from self-employment.
HMRC will write to confirm if you are eligible, when you receive your letter you will be able to claim online payment will be made in June
The scheme will be open to those with a trading profit of less than £50,000 in 2018-19, or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19.
Those who are recently self-employed, having set up since April 2019, will not receive any help under this scheme. This is because they will not have filed a tax return and therefore HM Revenue and Customs (HMRC) will not know of their self-employed status.
The government's new help comes on top of a six-month delay for tax payments through the self-assessment system