Self employed income support scheme

[littlespark]

I filled this in (my UTR and NI) but it said I wasn’t eligible. Why might that be?

The business is a partnership between my wife and I... She has a part time job that’s been furloughed.
I have had 2 full years trading, and had my returns in on time. The only thing that it might be is that for those 2 years I hadn’t made enough to pay tax and received a tax rebate. (From tax my wife had paid)
I won’t know how much UC I’m getting until 14th May.

 

[davesparks]

It's telling me from 8am on the 15th May to file a claim. I presume the position is still that it won't be paid until June.

payments are expected to be 6 days after application, see here:

[Withdrawn] Check if you can claim a grant through the Self-Employment Income Support Scheme

If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.

www.gov.uk

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I filled this in (my UTR and NI) but it said I wasn’t eligible. Why might that be?

The business is a partnership between my wife and I... She has a part time job that’s been furloughed.
I have had 2 full years trading, and had my returns in on time. The only thing that it might be is that for those 2 years I hadn’t made enough to pay tax and received a tax rebate. (From tax my wife had paid)
I won’t know how much UC I’m getting until 14th May.

If you have received a tax rebate then that suggests you may have made a loss on paper, or at least for the first year (i think most of us did/do in the first year)?
If you have made a loss then your average profits over the last 3 years (2 years in your case) may well be a negative number. As the grants are based on average income then if your income is zero or less then you wont get anything.

You will still be able to claim UC for as long as your income is reduced.

 

[Risteard]

I filled this in (my UTR and NI) but it said I wasn’t eligible. Why might that be?

The business is a partnership between my wife and I... She has a part time job that’s been furloughed.
I have had 2 full years trading, and had my returns in on time. The only thing that it might be is that for those 2 years I hadn’t made enough to pay tax and received a tax rebate. (From tax my wife had paid)
I won’t know how much UC I’m getting until 14th May.

Presumably the Self-Employed scheme does not include partnerships, which are probably covered by the furlough scheme.

 

[davesparks]

Presumably the Self-Employed scheme does not include partnerships, which are probably covered by the furlough scheme.

It does include partnerships,

 

[Midwest]

Out of interest, are these schemes some sort of loans that you have to pay back in the fullness of time, or are they paid back through your tax returns etc?

 

[littlespark]

Out of interest, are these schemes some sort of loans that you have to pay back in the fullness of time, or are they paid back through your tax returns etc?

It’s labelled as a grant. (Not a loan)
and I think everyone will be paying for this for some time with increases in tax across the board.

 

[Risteard]

Out of interest, are these schemes some sort of loans that you have to pay back in the fullness of time, or are they paid back through your tax returns etc?

As @littlespark points out it is a grant.

It is, however, taxable income.

 

[Baddegg]

I assume you’ll just have to declare it on 20-21 tax return as income and pay tax as relevant......the bigger question of repayment as a whole can only be higher taxes in the future...

 

[buzzlightyear]

The monies the government has given away
to company's ferlong they staff they will need to put the taxes up and vat and I don't blame them, its better to do that having a lot of peaple on the dole.

 

[Risteard]

they will need to put the taxes up and vat

The problem with that is that putting VAT up would have exactly the wrong effect when trying to encourage people to spend again. To revive the economy decreasing VAT would be more sensible than increasing it.