CORONAVIRUS – SELF-EMPLOYED INCOME SUPPORT SCHEME APPLICATION REMINDER

 

With the government’s online application system open for all self-employed people, now is the time to submit your application if you have not already done so.

The Self-Employed Income Support Scheme was established by the Chancellor in a bid to help cash strapped self-employed people adversely affected by the Coronavirus outbreak.

Under the scheme, self-employed individuals whose net income is under £50,000 per annum can claim 80% of their average monthly profits for a three month period.

Once an online application is made, following approval by HMRC this sum will be paid in the format of a grant, issued by BACS payment, generally within six working days.

Unlike the furlough scheme, agents are discouraged from making application on behalf of their clients.

For this reason, we are unable to submit your claim for you, but we can help you at every stage of the process.

We have contacted all clients to explain this and provide guidance on the process, but if you are yet to action this, we encourage you to do so now.

If you are struggling with the process, any client can ask one of our expert team members to set up a sheen-sharing meeting so that we can guide you through every individual step in the process.

You can contact a member of our team at any time via our dedicated portal, by contacting your dedicated accountant or by various means via our contact us page.

 

Best wishes,

Alan

Alan Wright
Coronavirus Support Team
Switch Accountants