Self-employed income support scheme – what kind of losses count?

As the Covid-19 lockdown eases, there are still Bectu members who are claiming support under the fourth grant of the Self Employed Income Support Scheme (SEISS).

This can be claimed when…

“…you reasonably believe there will be a significant reduction in your trading profits due to reduced business activity, capacity, demand or inability to trade due to coronavirus…”

Members are understandably concerned about the boundaries here – what is a ‘significant reduction’, and what kind of reductions fall within the scope of the scheme. So if income is hit because costs have gone up (for example) these are not the kind of losses that the scheme is intended to cover. HMRC has provided some guidance on the kind of losses that the scheme is intended to support here.

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