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Anyone who missed the 31 January deadline has four weeks from 26 March to file their 2018-19 return and benefit from the self employment support scheme #COVID2019#selfemployed
Interesting note for those who haven’t filed their returns:
But for the self-employed the government don't know about "there is nothing we can do", he says, telling them to look at Universal Credit.
Important to note that: Those who pay themselves a salary and dividends through their own company are not covered by the scheme but will be covered for their salary by the Coronavirus Job Retention Scheme if they are operating PAYE schemes.
To minimise fraud, only those who are already in self-employment and meet the above conditions will be eligible to apply. HMRC will identify eligible taxpayers and contact them directly with guidance on how to apply. 2/2
The scheme will be open to those with a trading profit of less than £50,000 in 2018-19 or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19.
To qualify, more than half of their income in these periods must come from self-employment.
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Stats show that one in five people leave their tax return to the last 48 hours before the 31 January deadline.
Cut the stress and get it out of the way painlessly with our step-by-step guide.
#SelfAssessment#TaxReturn#SoleTraders#BusinessGuide
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