Self-employed who are eligible for SEISS to be contacted by HMRC
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HMRC have also opened an online assessor, which will let customers check their eligibility for themselves, as well as giving them a date on which they can apply.
HMRC have started contacting the millions of contractors who may be eligible for the government’s Self-Employment Income Support Scheme (SEISS) to explain the application process and help them get ready to make a claim.
The temporary scheme will enable those eligible to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500 (equivalent to three months’ profits) in a single instalment.
HMRC is using information that customers have provided in their 2018-19 tax return – and returns for 2016-17 and 2017-18 where needed – to determine their eligibility and is contacting customers who may be eligible via email, SMS or letter.
Customers are eligible if their business has been adversely affected by Coronavirus, they traded in 2019-20, intend to continue trading and they:
- Earn at least half of their income through self-employment;
- Have trading profits of no more than £50,000 per year; and
- Traded in the tax year 2018 to 2019 and submitted their Self Assessment tax return on or before 23rd April 2020 for that year.
For those who are unable to make a claim, HMRC have said that it will direct them to guidance setting out the conditions to help them understand why they are ineligible, and advice about other support that might be available to them such as: income tax deferrals, rental support, Universal Credit, access to mortgage holidays and the various business support schemes the government has introduced to protect businesses during this time.
To find out more about contracting please contact Jaime on 01442 795 100 or email firstname.lastname@example.org.
Why Dolan Accountancy?
Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:
- Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
- Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
- A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
- Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
- Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
- Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
- Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
- Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
- Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.
If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email email@example.com or firstname.lastname@example.org.