The next grant for the self employed will be available from 30 November 2020. It will be an online application, similar to previous grant applications. For support on how to claim, contact us.
Who can claim this time around? Not any sole traders that only started in the 2019/2020 tax year. They have been left out yet again. All of the following must apply:
you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
you traded in the tax year 2019 to 2020
you intend to continue to trade in the tax year 2020 to 2021
The applicant must declare that they intend to continue to trade and either:
are impacted by reduced demand due to coronavirus
are temporarily unable to trade due to coronavirus
The third grant will cover a 3 month period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total.