Following last night's announcement self-employed workers will be able to claim grants of up to 80%, capped at £2,500 per month.  You will qualify if your last 3 tax returns showed an average self-employed income under 50k.

HMRC will contact eligible persons to complete an application form and money will be paid directly in to your bank.  Due to the complexity of this being set up the payments are due to be sent out in June, and will be back dated. 

HMRC are aware of an increase in scam emails, calls and texts.  HMRC are saying that if  someone gets in touch claiming to be from HMRC, saying that financial help can be claimed or that a tax refund is owed, and asks you to click on a link or to give information such as your name, credit card or bank details, please do not respond.

HMRC will never contact you out of the blue to ask for these details.

Directors only qualify if they have been furloughed & it is based on their salary only, Dividend income is not taken into account.

Pease follow the links below for more information regarding other help that the government have introduced for the self-employed:

• Deferral of Self Assessment Income Tax payments due in July 2020 and VAT payments due from 20 March 2020 until 3‌0‌‌ June 2020
• Grants for businesses that pay little or no business rates
• Increased amounts of Universal Credit
• Business Interruption Loan Scheme
• Directors of their own company paid through PAYE, may be able to get support using the Job Retention Scheme.