There is no requirement to consider any other coronavirus scheme support payments that an individual may have received upon deciding whether they reasonably believe that they will see a significant decrease to trading profits. This reduction needs to be related to less activity, capacity, demand or a complete inability to trade as a result of coronavirus during 1 November 2020 to 29 January 2021. As part of the SEISS online claim process, prompts will appear to help with recovering lost Unique Taxpayer References (UTRs), National Insurance Numbers (NINOs) and Government Gateway credentials. The details should be available online, with no requirement to call HMRC. In line with the previous two grants, the third SEISS grant will be subject to Income Tax and self-employed National Insurance (NI). However, no SEISS grants should be recorded in the 2019-20 Self-Assessment tax return and should instead be reported on 2020-21 tax returns.
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Self-Employment Income Support Scheme scam currently in operation 18 January 2021
The CIPP has been alerted to an email scam that is currently in circulation, that advises recipients of the extension of the Self-Employment Income Support Scheme (SEISS) and discusses the third grant.
The email originates from G.O.V. U.K., and the format is as follows:
“The scheme has been extended.
The online service to claim the third grant is open. You must make your claim for the third grant on or before 29 January 2021.
The third grant will cover a three-month period and will be capped at £7,500 in total.
The scheme for government grant has been approved for (recipient’s email address). The money are set to land in your bank accounts within six working days of making the claim.”
A link is then provided, but the link should not be accessed, as the email is a fraudulent one.
Unfortunately, the number of scams of this nature that are in operation has increased significantly since the outbreak of coronavirus, and individuals should familiarise themselves with guidance that assists with identifying bogus phone calls, emails and text messages claiming to be from HMRC.
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Northern Ireland announces the Limited Company Director’s Support Scheme 18 January 2021 The Minister for the Economy has confirmed that a Limited Company Director’s Support Scheme (LCDSS) will be established, in order to help company directors who have personally been negatively affected by coronavirus. Online applications can be made from 6pm on 21 January 2021, and the scheme will be administered by Invest Northern Ireland.
One-off taxable grants equating to £1,000 will be issued to eligible company directors, and applications can be made by those who hold more than one directorship, although only one application can be made per person.
To be eligible, the Director must meet all of the below criteria:
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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