Wednesday, 1 April 2020

Self-Employed Income Support Scheme - Outline #selfemployed #madeinbritain

There is a lot of information and opinion on the web regarding this self-employed scheme - below are a few pointers on this new initiative.

Your self-employed trading profits must also be less than £50,000 and more than half of your income come from self-employment. In a nutshell if you don't fit into either or both of the first two bullet points below, you will might find some difficulties in applying for this scheme.
  • having trading profits/partnership trading profits in 2018-19 of less than £50,000 and these profits constitute more than half of your total taxable income
  • having average trading profits in 2016-17, 2017-18, and 2018-19 of less than £50,000 and these profits constitute more than half of your average taxable income in the same period
Maybe it is time to get on our bikes...

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


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