The webinar will assist in the following areas:
• Explaining how to claim the second grant under the SEISS • Establishing who is eligible • Establishing the amount that can be claimed • Detailing what other support is available
This second grant is the final one that can be claimed under SEISS, and the scheme will close on 19 October 2020, so claims need to be submitted prior to that date.
The eligibility criteria remains unchanged from that of the first grant, but self-employed people must be able to demonstrate that their business has been adversely impacted (experienced lower income and / or incurred higher costs) by the outbreak of coronavirus since 14 July 2020. Businesses must keep evidence of how they have been negatively affected.
The second taxable grant is worth 70% of average monthly trading profits, as opposed to 80% under the first grant. In line with the first grant, it will be paid in one single instalment, but capped at a maximum of £6,750.
Any self-employed parents who may have had time off to have children may also be able to claim if they meet other eligibility criteria. More information is available online.
Agents and advisers cannot submit claims on behalf of their clients. The quickest way for clients to claim is online and this takes the majority of people less than five minutes, using their Government Gateway account. When a claim has been successfully completed, money will be paid out within six working days.
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As children return to school, a timely reminder about Tax-Free Childcare 18 August 2020
As children in Scotland returned to school last week, HMRC is reminding parents that they can apply for Tax-Free Childcare to help with childcare costs.
In order to access this money, families simply need to pay money into their Tax-Free Childcare account, and for every £8 deposited, the government immediately tops up the payment with an additional £2. Working parents, including self- employed individuals, are eligible for the scheme, as long as they earn between the minimum wage and £100,000 per year. They must also have children aged between 0 and 11 years old. For a disabled child, aged 0-17 years old, families can receive up to £4,000 in financial support from the government each year. HMRC wanted to remind parents due to the fact that they may not be aware of the scheme or may have simply forgotten to claim due to the extended period of time that their children have been out of school. It is estimated that approximately 110,000 families in Scotland are eligible for Tax-Free Childcare. More information is available at the Childcare Choices website, where individuals can also apply. It has a Childcare Calculator which assesses all of the government’s childcare offers to see which would work best for each individual family.
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August electronic payment deadline 19 August 2020
Within the latest edition of the Employer Bulletin, businesses are reminded that the electronic payment deadline for August falls on a weekend date – Saturday 22 August.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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