You can use this scheme if you’re self-employed or a member of a partnership in the UK and have lost income due to coronavirus (COVID-19) to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 a month. It will be available for 3 months, but may be extended. The grant will be subject to Income Tax and National Insurance contributions but does not need to be repaid.
The online service you’ll use to claim is not available yet. HMRC aim to contact you by mid-May 2020 and make payments by early June 2020. You will need to confirm to HMRC that your business has been adversely affected by coronavirus. HMRC will pay the grant directly into your bank account, in one instalment. You can make a claim for Universal Credit while you wait for the grant
If you have not submitted your Self Assessment tax return for the tax year 2018 to 2019, you must do this by 23 April 2020 or you will not be able to claim. If you amend a submitted return after 26 March 2020 any changes will not be taken into account when working out your eligibility or amount of the grant.
You cannot make a claim yet. HMRC aim to contact you by mid May 2020 if you’re eligible for the scheme and invite you to claim. You do not need to contact HMRC.
The scheme will be an online service only. If you receive texts, calls or emails claiming to be from HMRC offering financial help or a tax refund and asking you to click on a link or to give personal information, it is a scam.