Launching your own start-up takes planning, development, courage, and cash. We know many start-ups’ need to rely on funding, so we’re exploring everything you need to know about seed funding. Including what it is, what your options are and what you should consider.
The Self Employed Income Support Scheme (SEISS)
Progress is being made. In parallel with HMRC starting to contact self-employed individuals they believe are eligible, we know now that you can also check your eligibility online – starting here (You’ll need your unique tax reference number and national insurance number).
This isn’t a claim, but you’ll receive an online verification that you will be able to claim (or otherwise) together with confirmation of the date you can claim – it’ll be staged from 13th to 18th May.
If the checker says you can’t claim it gives you a bit of time to question why. We don’t yet now the process for disputes.
You can also from that point log into your personal gateway to confirm contact details and bank account details. If you don’t have a personal gateway we strongly suggest you get that created immediately from here. It’ll take 15 minutes or so.
In line with the responsiveness of the Coronavirus Job Retention Scheme, claims are expected to be with you in six days or so, with first payments starting from 25th May (so a little longer for the early claims, but earlier than previously anticipated).
Remember a few key points:
- You can continue working whilst claiming the SEISS
- You’ll be paid based on 80% of your average profits over the three years to April 2019 (or part thereof)
- You are not eligible if your average profits are more than £50,000, if trading profits are less than half your normal income
- You are trading now (or would be if it wasn’t for coronavirus)
- The payment is taxable
- This is a ‘self-serve’ application, unlike CJRS. It’s not proved possible in the limited time available to develop applications through our agent portal
- We can use the eligibility checker on your behalf and request a review where the system gives the response that you are not eligible
- HMRC has advised that your accountant should not use your login to apply for grants, and that doing so may it trigger HMRC fraud checks and delay payment
Do not click on any active link from an email or text allegedly from HMRC. That’s not how it will work. If you’ve any doubts about the links above please contact your Blu Sky Account Manager.
Air pollution is the single largest environmental health risk that we face today. Here are 5 tips for you and your business to help fight air pollution, and keep the sky Blu!
Earlier this year we pledged to support the NEECCo by further reducing our carbon footprint and encouraging our team to travel in greener ways.