Self-employed workers have until 23 April 2020 to file their 2018/19 tax return to be eligible for Covid-19 support.
It comes after the Government extended the deadline for self-employed people to get their tax affairs in order to be eligible for emergency coronavirus grant funding.
According to the Government, approximately 600-700,000 self-employed workers have yet to file their 2018/19 tax return, which was due on 31 January 2020.
Under the scheme, the self-employed will be able to claim a taxable grant worth 80 per cent of their trading profits up to a maximum of £2,500 a month.
However, only those who traded in 2018/19 and previous tax years are eligible to receive support. Likewise, you must have submitted a tax return for the 2018/19 tax year to make a claim.
Commenting on the scheme, the Chancellor Rishi Sunak said: “If you’re eligible, HMRC will contact you directly, ask you to fill out a simple online form, then pay the grant straight into your bank account.”
The grant fund will initially be available for three months but may be extended. For more information and eligibility criteria, find official Government guidance here.
Do you need to submit a 2018/19 tax return? For help and advice, get in touch with our expert team today.