Have You Applied for your 2nd FREE Government Coronavirus self-employed Grant?

The second application is now open with a deadline of 19th October – DON’T MISS OUT

If your work was affected in any way by the Coronavirus situation (e.g. a cancelled or delayed customer, or needing to take some days off to care for a child or relative) you are entitled to a second grant from the Government equivalent to 70% of 3 months’ earnings, capped at £6,750 in total.  You DON’T need to provide details of any lost earnings or work out how much money you have lost.  You just tick a box to confirm that your trading has been affected.  The amount you will receive does NOT vary based on how much you have been affected.  You can apply for this second grant even if you received the first one a few months ago.  You can also apply for this second grant if you didn’t receive a first grant a few months ago.  In short, everyone self-employed can apply as long as their work was affected in some way as a result of Coronavirus pandemic.

But you MUST apply for this by 19 October.  After that it is too late to claim it.

If you applied & qualified for the first instalment of this grant, you will qualify for the 2nd instalment, as long as you have continued to have been affected in some way by the Coronavirus situation but you will still need to apply for the 2nd instalment in the same way as the 1st.  If you didn’t apply for the first grant, then you can still apply for this second grant, and the application process is very straightforward and can be done on your phone, tablet or computer.

This is a grant, NOT a loan.  This means you don’t have to pay it back.  The only impact on receiving it, is that it counts as income for this year (just like an invoice to a customer) so you then declare it on next years’ tax return as income and pay income tax and NI on it then.

It takes less than 5 minutes to do online, and you will be instantly told whether you will receive the grant or not and how much money you will receive.  This is then paid straight into your bank account in around 1 week.  The grant amount is calculated automatically based on your already submitted tax returns to HMRC.

All you need in order to do your 5 min online application:

  1. Your Self-Assessment UTR Number (Unique Taxpayer Reference) – this will be on any of your previous tax returns, or your accountant will have it noted somewhere. It is a 10 digit number
  2. Your National Insurance number
  3. Your bank details for them to make the payment to you
  4. Your HMRC Online log-on username and password – only if you have used the online service yourself before, if not you can create one when you apply. The username is a series of 12 numbers/letters, not an email address.

Go to www.gov.uk > Search ‘coronavirus self-employed grant’ > then click the ‘Claim A Grant Through The Self-Employed Income Support Scheme’ option, then click the green ‘Start Now’ box.

Or go straight to this link:  https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme  and click the green ‘Start Now’ box.

NOTE – Your accountant is not allowed to apply for the grant on your behalf, you have to do it yourself.  That said, they can probably help you do it over the phone.  Alternatively, call us at Chandlers and ask to speak to Ben Chandler who can give you a steer.

Remember, even if you received the first grant you CAN apply for this second grant, and even if you did not receive a first grant, you CAN still apply for the 2nd grant now.