If you are self-employed (either as an individual or in a partnership), you can claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month, for 3 months.
The scheme currently allows you to claim a taxable grant worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months' worth of profits, and capped at £7,500 in total.
You can claim if you're a self-employed individual or a member of a partnership and all of the following apply:
- you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
- you traded in the tax year 2019 to 2020
- you intend to continue to trade in the tax year 2020 to 2021
- you carry on a trade which has been adversely affected by coronavirus
Your business could be adversely affected by coronavirus if, for example:
- you're unable to work because you:
- are shielding
- are self-isolating
- are on sick leave because of coronavirus
- have caring responsibilities because of coronavirus
- you've had to scale down or temporarily stop trading because:
- your supply chain has been interrupted
- you have fewer or no customers or clients
- your staff are unable to come in to work
You should not claim the grant if you're a limited company or operating a trade through a trust.
To work out your eligibility, the HMRC will first look at your 2018 to 2019 Self Assessment tax return. Your trading profits must be no more than £50,000 and at least equal to your non-trading income.
If you're not eligible based on the 2018 to 2019 Self Assessment tax return, the HMRC will then look at the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019.
If you're eligible and want to claim the first grant you must make your claim on or before 13 July 2020. You must make the claim yourself. Your tax agent or adviser cannot make the claim for you. If you have an agent you should contact them if you need any help or support.
You can apply online now for the first grant.
This scheme is being extended. If you're eligible for the second and final grant, and your business has been adversely affected on or after 14 July 2020 you'll be able to make a claim from 17 August 2020. You can make a claim for the second grant if you’re eligible, even if you did not make a claim for the first grant. Find out more about the extension to the scheme.
The online service for the second and final grant is not available yet. Applications for the second grant will open from 17 August.