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Self Employed Compensation Scheme


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From what I now understand, After the Government notify us about our eligibility of being self employed, we then have to make a claim for the 80% of our average earnings,they will not just place the money in our accounts. Which I would presume entails declaring any money we may of earned since March 1st this year being offset against the payment they have worked out. So people who worked through these weeks will probably not recieve anything, as they were working (whether to or not to government mixed guidelines).

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nobody knows for sure what the arrangement will be, anything about the finer details is all speculation currently.

the information we have already been given states that you are able to continue working and still be eligible to receive the grant. 

 

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13 hours ago, mike007 said:

From what I now understand, After the Government notify us about our eligibility of being self employed, we then have to make a claim for the 80% of our average earnings,they will not just place the money in our accounts. Which I would presume entails declaring any money we may of earned since March 1st this year being offset against the payment they have worked out. So people who worked through these weeks will probably not recieve anything, as they were working (whether to or not to government mixed guidelines).

The guidelines state you can continue to work but will be eligible if you have lost income or your incomes been effected by coronavirus lockdown didnt start till last week of March so yes lots of people will have had earning from march and lots will have taken some time off or lots of time off or no time off but I would imagine even those who have worked throughout will have lost business and had cancellations especially more elderly and vulnerable ones

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14 hours ago, mike007 said:

From what I now understand, After the Government notify us about our eligibility of being self employed, we then have to make a claim for the 80% of our average earnings,they will not just place the money in our accounts. Which I would presume entails declaring any money we may of earned since March 1st this year being offset against the payment they have worked out. So people who worked through these weeks will probably not recieve anything, as they were working (whether to or not to government mixed guidelines).

You have to fill in an online questionnaire/ form I was talking about it tk my accountant this morning but he said they aren’t available to fill in yet .

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HMRC have emailed me today to arrange to view a webinar:

 

Dear customer,

The government is committed to doing whatever it takes to support businesses and individuals through the coronavirus pandemic.

The Self-Employment Income Support Scheme (SEISS) has been introduced to help the self-employed (including members of business partnerships) through this period of disruption.

Join the following live webinar for an overview of the scheme.

Coronavirus (COVID-19) – Self-Employment Income Support Scheme (SEISS)

During this webinar we’ll be covering:

the aim of the scheme

who can apply

how much you may be entitled to

how to apply for the scheme

what happens after you’ve applied

other support available.

Choose a date and time

We will bring you the most up-to-date information to keep you fully informed of changes as they develop.

Stay at home. Protect the NHS. Save lives.

Yours sincerely

Jim Harra

Chief Executive and Permanent Secretary – HMRC

 

Whoop

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clearview

I’ve read through this on the govs website it states you need a gateway id and password which I’m sure I don’t have as when I did my self assessments years ago it was a form you filled in and posted off !, then my accountant has been doing it ever since so maybe I’ll need to register ?

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12 hours ago, clearview said:

I’ve read through this on the govs website it states you need a gateway id and password which I’m sure I don’t have as when I did my self assessments years ago it was a form you filled in and posted off !, then my accountant has been doing it ever since so maybe I’ll need to register ?

Just get your accountant to do it for you 

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scottish cleaning service
3 minutes ago, Pjj said:

Just get your accountant to do it for you 

I was looking into this on other site and someone mentioned insurance is going up for tanks over 650l. fwiw

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clearview
3 minutes ago, Pjj said:

Just get your accountant to do it for you 

I’ve contacted them and they told me to register for the gateway id etc and it actually states on the gov Info section on the self employed compo that accountants can’t do it for you it has to be done by yourself 

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1 hour ago, clearview said:

I’ve contacted them and they told me to register for the gateway id etc and it actually states on the gov Info section on the self employed compo that accountants can’t do it for you it has to be done by yourself 

My accountant told me he will do it you have to set up the account I believe but once done he should be able to input all the info needed .

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Part Timer
1 minute ago, Pjj said:

My accountant told me he will do it you have to set up the account I believe but once done he should be able to input all the info needed .

It actually states.on the Gov webpage that your advisor can help you but you have to submit it. Sounds like some type of legality reason to me

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2 minutes ago, Part Timer said:

It actually states.on the Gov webpage that your advisor can help you but you have to submit it. Sounds like some type of legality reason to me

Your accountant will do your tax return and submit it but you still have to sign it , Ime guessing it’s a similar thing with this . 

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Part Timer
43 minutes ago, Pjj said:

Your accountant will do your tax return and submit it but you still have to sign it , Ime guessing it’s a similar thing with this . 

From the Gov page

 

Your tax agent or adviser cannot make the claim for you. You must make the claim yourself. If you use an agent you should contact them if you need any help or support.

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jason1965

Just had my email from HMRC reference compensation claim, i had to enter my UTR and my National insurance number, and then it said i was able to claim, then you are sent to another page, and i had to enter an email address and mobile phone number, and after that it said i can make a claim from midday on the 13 of May. And that's it, so just have to wait until the 13 of May before making a claim. Here is the email they sent me hope this helps, someone might of already posted this information so if they have excuse me. Here is the email link there is no personal information its just telling you what to do to find out if you are eligible.  . https://mail.google.com/mail/u/0/#inbox/FMfcgxwHNDBkdGjhMjPWnxJgJxfWsWxG If you have not received this it does state that the claim process will be from the 13 May-18 May, so i guess to stop the system overloading there letting people claim on different days. 

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Just wondering if anyone’s done their tax return for 19/20 yet. Want to crack on with it as I’m not working at the moment but what is the story about this grant? Obviously it will cover from March- may, Straddling two tax year’s. So do we have to wait and see what portion of it to count on each tax return(if we get it) or do we just put the lot down on 20/21 tax return? What are people’s thoughts? Has anyone seen any guidance in this ?

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Part Timer

My Accountant told me the grant goes on next years tax return as other earnings. It doesn't go on your turnover so if you're close to the VAT threshold it won't take you over. This info would best be checked by your own Accountant as well.

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3 hours ago, Part Timer said:

My Accountant told me the grant goes on next years tax return as other earnings. It doesn't go on your turnover so if you're close to the VAT threshold it won't take you over. This info would best be checked by your own Accountant as well.

Cheers PT.

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  • 2 weeks later...
Redditch windy

it says when you apply...have you been ADVERSELY effected....so if you say yes when in reality you havent(remember hmrc look at yearly totals not monthly on tax return) you may find yourself in a spot of bother and with unwanted attention from hmrc down the line

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3 minutes ago, Redditch windy said:

it says when you apply...have you been ADVERSELY effected....so if you say yes when in reality you havent(remember hmrc look at yearly totals not monthly on tax return) you may find yourself in a spot of bother and with unwanted attention from hmrc down the line

Define adversely, I would take it that if in any month of the 3 you could prove you lost some takings or customers you have been adversely affected. The fact in the next few months you worked harder to regenerate the business and at the end of the year your turnover was higher it would be very hard, and politically damaging, for someone to be asked to repay the grant.

I know of people, one having a courier business, whose turnover is 40% up, that have applied and got it. Now that is ridiculous as I think, personally, they will look at the areas that shouldn't have been badly affected and check on those that have claimed.

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