Claiming a grant for self employment In Uk

If you're self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) find out if you can use this scheme to claim a grant. The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether. This is a temporary scheme, but the UK government may be extended. Who can claim 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 2020you intend to continue to trade in the tax year 2020 to 202. you carry on a trade which has been adversely affected by coronavirus. Your business could be adversely affected by coronavirus if, for example: You are shieldingare, self-isolatingare on sick leave because of coronavirushave or caring responsibilities because of coronavirus. You should not claim the grant if you’re a limited company or operating a trade through a trust. To work out your eligibility we 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. https://www.gov.uk/guidance/how-hmrc-works-out-total-income-and-trading-profits-for-the-self-employment-income-support-scheme