IRRV Alert - week ending 17th July 2020
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Self-Employment Income Support Scheme (17 July 2020)
Self-Employment Income Support Scheme
17 July 2020
The Self-Employment Income Support Scheme (SEISS) has been updated with a number of changes including the following:
- SEISS is closed for the first grant, the scheme allows you to claim a second and final taxable grant, you can make a claim for the second grant if you are eligible, even if you did not make a claim for the first grant, find out more here
- new guidance has been published if you have been overpaid, made a claim in error and were not eligible for the grant or would like to make a voluntary repayment, find out more here
- guidance on how HMRC works out trading profits and non-trading income has been updated to include that losses are not included in your non-trading calculation, find out more here
- guidance on how different circumstances affect the scheme has been updated to include what supporting evidence you may be asked for if having a new child affected the trading profits you reported for the tax year 2018 to 2019, find out more here