Self-employed people are for the first time, able to access the application portal for the promised income Support Scheme. HMRC has assigned eligible self-employed people a specific date to apply for support on. The date will fall between 13th – 18th May, and individual’s can check their date via HMRC’s online checker.
Applications cannot be made before the individual’s allocated date, but an individual can claim after their allocated date. Financial support should reach the bank accounts of eligible self-employed people by 25th May 2020, or within six working days of the claim application being completed. Those who are eligible will have been informed by HMRC in the lead up to the claim dates.
The scheme launches earlier than was expected – it was due to be active by the beginning of June. It was announced at the end of March, and offers self-employed people a taxable grant of 80% of their average monthly profits over the last three years, up to £2500 a month. The scheme will be open to people for at least three months, with a possibility of extension.