Self-Employed HMRC update

[Snorkelface]

HMRC has added a few updates for the self employed grant scheme.

www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

While HMRC will be contacting eligible claimants directly over the next couple of weeks with more specific details you can now see if you're eligible to claim and what date you'll be able to lodge your claim by using their on-line tool (about half way down their web page).

You'll need your UTR and NI number to do this and it will also give you the opportunity to set up your Gateway account if you don't already have one and to update your contact details. It's a good idea to set this up now as the website is likely to get very busy when it goes live on 13th May.

You can find both your UTR and NI number on your tax return. If you're setting up your Gateway at the same time you'll need to provide email/mobile details and you'll need to set up additional security measures to identify you using either security questions or drivers license details or your passport. The system can time out so it's a good idea to have all the details to hand.

I put it in last Thursday, received the money today, Yorkshire Bank.

@lynsey91 - oh I'm so sorry it was the form after all. That's must be so frustrating. However, even it feels like pissing in the wind, I'd fight that one, beyond the review I'd imagine. It's a genuine mistake, you're not trying to diddle HMRC, there'll be evidence from your DH's contractor that the work was CIS (in an ideal world HMRC would've joined up the dots somehow and realised something wasn't quite right, maybe not). Don't give up just yet, if only so you know you've done everything you can xxx

Actually @lynsey91 - just giving you this link for what it's worth. I can't remember now but I think the extension to April Sunak gave for tax returns being filed was just for people who hadn't filed them at all. I don't remember there being a directive over errors on past tax returns being brought forward to April and the SEISS grant system has no end date as yet.

www.gov.uk/self-assessment-tax-returns/corrections

This is the link!

Hello everyone, I’ve been reading through the posts and wondered if anyone can help me.

I am Self Employed and am currently still working but not as much, due to coronavirus (not as much work to do)

I am down roughly £500 a month. I am eligible to claim and my grant is just over 3K, so 1k a month.

Can I still claim? As it’s obviously more than I’m losing. Is there a way to claim less?

Thank you.

My text confirming payment came after the money had hit my account.

It went in on day 5

@Boredsheep - you can't alter the amount of the grant, it's designed as a one off lump sum by HMRC, so it's take it or leave it. The grant isn't based directly on the income you've lost, it's about being adversely affected by coronavirus, that's it. If you're not working as much then you have been. It's also 80% of past returns not 100% and it will also be taxed so part of it will be returned to HMRC in due course anyway. It's up to you if you claim, I think every one is concerned there may not be any more support coming after this, but no one knows if that's the case as yet.

Lynsey
It might be worth resubmitting as there is no tax liability and you can prove it was a genuine error ....

Boredsheep
Yup, its a yes or no, take it or leave it grant.

@lynsey91 - glad ListeningQuietly thinks it's worth a go as well. Go for it, even if the review says otherwise I would resubmit anyway.

Snorkel
Do you reckon we are allowed to put this thread down as CPD
as its been a really useful learning process in all directions

God yes! I thought it would only last about five minutes and get swallowed up. It's been an excellent exercise in lateral thought!

Got an email today to say the money has been sent and will take 3 working days to go into account. Today is day 4 since claiming

We started the UC claim today....

I applied Saturday and my money is in my account this morning. Impressed by how straightforward the process has been, but sorry for everyone who has fallen through the cracks

hello all, I just wanted to add into the great advice given on here. I was really wavering about applying because a large job (once a year) had co-incided with lockdown, but overall another client (regular) had cancelled 500 per month in work.

I was worried the large job would cancel this out. A lovely tax advisor (advice already given by the lovely MNers in this thread!!) spoke to me free of charge and explained even HMRC have been very woolly themselves about what "adversely affected" means and suggested that if I keep evidence I would be fine and to go for it and apply because overall I have been adversely affected.

He said if I am able to save the money and not touch it that would be good in case of the very very small chance they would ask for it back, but he doubted they would. He also suggested if things are picking up again for the June (not yet confirmed but likely to go ahead) grant then maybe not to claim that one, which would hold in my favour if they ever did dispute anything. He said all his clients are in a similar situation to mine and that he himself was in a similar situation but claiming for the first 3 months only.

So I have the green light from a tax advisor. Thank you everyone for your support on this thread - I did just want to speak to someone.

So for anyone wavering if you have evidence you have been adversely affected, the advice is to just go for it keeping evidence as above.

And wonder of wonders... when I looked at it in my accounts App (FreeAgent) it has a 'Grant Income' option!

So all sorted for end of year accounts too!

I found it under "Other Money In" and "Grant Income".

@magicmallow This is what I have been advising my clients to do who were unsure about claming. We are only just into this so I think it would be foolish to not take what has been offered, there may not be another opportunity.

DH applied last Friday and the money was in his account yesterday. Handy really as we now have a £700 vet bill courtesy of the cat!

I wonder if the vet has made a claim :)

Mine is still not in. I applied early Thursday, so "within 6 working days" it should be paid by 7.45am tomorrow. At what point can I legitimately chase it?

InMySpareTime - can your bank see the transaction in advance. Mine could see it pending the evening before it showed.

My bank shows pending transactions. It's not even there.

Mine didn’t show in pending transactions either, i checked at 11:30pm and it wasn’t there but was in in the morning (that was yesterday, I also put in for it last Thursday).

Update

I met with some non client self employed people today
taking the full AIA on a capex is rarely a good idea
I've always told my tax clients to spread things like vans over three years
now I have evidence

I have the email now to say they're processing the payment, so hopefully the money will land soon.