Welsh Labour MP for Ogmore, Chris Elmore, is seeking to warn constituents that they may be contacted shortly if they are eligible for the UK Government’s Self-Employment Income Support Scheme.
This week (commencing 4 May), HMRC has begun contacting those eligible for the scheme, which will fund up to 80 per cent of average trading profits up to a maximum of £7,500. The total grant amount will equate to an average of three months’ trading profits up to this cap and will be paid in a single instalment.
HMRC is also encouraging self-employed people to go online and check whether they are eligible for the scheme via: https://tinyurl.com/y7hktgng.
Chris Elmore MP said:
“I know how concerned many self-employed individuals and their families are across Ogmore. It’s vital that HMRC gets grants to those who are eligible as quickly as possible through this scheme. If you are contacted by HMRC and get into any difficulty, please do get in touch with my team and I. Likewise, if you’re not shortly contacted by HMRC but think you should fall under the scheme, just drop me an email or pick up the phone and I’ll look into it.
“I remain concerned that some people may be falling through the cracks in the UK Government’s financial support packages – particularly those who have recently started a new job. I am continuing to question the UK Government on these matters and I will update local residents as or when I have any update on this.”
Constituents can claim if they’re a self-employed individual, or a member of a partnership, their business has been adversely impacted by coronavirus and they:
· traded in the tax year 2018 to 2019 and have submitted their Self Assessment tax return for that year on or before 23 April 2020
· traded in the tax year 2019 to 2020
· are trading when they apply - if they’ve temporarily stopped trading because of coronavirus they will still be classed as trading by HMRC
· intend to continue to trade in the tax year 2020 to 2021
Their trading profits must also be no more than £50,000, and at least half of their total income for either:
· the tax year 2018 to 2019
· the average of the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019