MILLIONS of Brits who work for themselves will be eligible for the Covid support grant, but you only have until next week to apply.
Claims must be made by June 1 which gives you nine days left to apply for the up-to £7,500 self-employment income support scheme.
? Read our coronavirus live blog for the latest news & updates…
1
The grant is designed to cover lost earnings through February, March and April as a result of the coronavirus pandemic but it only applies if you’re self-employed.
The scheme allows you to claim 80% of your business profits up to the £7,500 mark.
Chancellor Rishi Sunak confirmed the full details of the scheme’s latest instalment as part of his Budget this year.
You should have been contacted from around mid-April by the government if you are eligible for the support, but it depends on your latest tax return.
Fourth grant applicants have had roughly one month to claim since applications opened late last month.
The deadline to claim the grant is looming but previous grants have had a longer time-frame for making a claim.
In contrast the third grant had a two month window for applications since it opened on November 30 last year and had a deadline of January 29 this year.
A total of 2.7million self-employed people got access to help because of it, and the fourth instalment of the scheme is set to take the total to more than 3.3 million.
How do I apply?
You should have already been contacted by the government either via email, letter or within the online service.
If you’re eligible based on your tax returns, HMRC will have given you a date that you can start making your claim from.
But all claims must be made by June 1, 2021.
To apply for the grant, you’ll need to visit the Gov.uk website and complete the grant application form.
What do I need to apply for the grant?
If you are self-employed then you’ll need the following information to hand if you are trying to claim the grant:
- Your self assessment unique taxpayer reference (UTR) – if you do not have this find out how to get your lost UTR
- National insurance number – if you do not have this find out how to get your lost national insurance number
- Government Gateway user ID and password – if you do not have a user ID, you can create one when you make your claim
- UK bank details (only provide bank account details where a Bacs payment can be accepted)
- You may also be asked questions about your passport, driving licence or information held on your credit file
Coronavirus scams are common so you should check any contact from HMRC is genuine and not give away personal information if the site asking you looks suspicious or you are concerned it’s not the real deal.
The fourth grant will now be available for 600,000 newly self-employed workers as long as they submitted a tax return for the 2019/20 tax year by midnight on March 2, 2021
It’s the same for the following fifth grant that has been confirmed which will help Brits over the summer months, with the system opening for those eligible to apply again from July.
The grant will be the final grant available covering lost income for June, July and August.
PINBALL FLIPPER
Coins celebrating The Who issued — with one solid gold version costing £68k
FINES THREAT
Homeowners face hefty fines if they do not replace their old gas boilers
SUN SAVERS
Dine in and don’t fork out with our favourite family feast deals
CASH CONVERTER
Storage Hunters’ Jesse McClure reveals secret to making money from nothing
CHASING CRYPTO
The next Bitcoin? The risks of investing in new cryptocurrencies
CHEEP ‘N’ BEERFUL
How to cut costs on your booze bill as prices rise post-lockdown
Over 200,000 Brits are missing out on £1,000s a year in disability or health benefits so here’s how you can claim the money you’re owed.
Plus, millions are facing smaller pension pots for when they retire, but we can tell you how you can fix that.
If you’re not self employed you might want to get clued up on what the national minimum wage is for 2021 in the UK.
Budget 2021- Self-employed to get fourth grant of £7,500, Rishi Sunak reveals
