The second round of Coronavirus Self Employed Grants are now open for claims.
Reminder of key details:
– Self Employed and Business Partners only, not Limited Companies
– Can claim if your business “adversely affected” by Coronavirus after 14 July 2020.
– Must claim by 19 October 2020.
Eligibility is as per first grant:
– Self Employed pre 5 April 2019
– SE profits more than half your overall income and less than £50k.
Grant is 70% of three months average trading profits up to maximum grant of £6,570
Adversely Affected means:
– your profits are lower due to less income or greater expense due to Coronavirus
– this is continuing after 14 July 2020 (or your loss of profit started after then, eg major customer gone bust recently)
– if you were disrupted at the outset in March / April but now recovered cannot claim
– its an all or nothing – you claim the full 70% of profit grant or none of it, even if your loss of profits is less than 70%