Self-employed for 2nd half of 2018/19 tax year. Do I qualify for the self employed grant?

tracys76

I returned to work after having children in Oct 2017. I left this employment in August 2018 for self employment. My employed income (through PAYE) for that tax year was around £7000 and my self employed profit was around £5500. Does my employed income mean I am not entitled to the self employed help?

poppy12345

Your trading profits must also be no more than £50,000 and more than half of your total income for either:

• the tax year 2018 to 2019
• the average of the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#who-can-claim

ffc58

tracys76 said:

I returned to work after having children in Oct 2017. I left this employment in August 2018 for self employment. My employed income (through PAYE) for that tax year was around £7000 and my self employed profit was around £5500. Does my employed income mean I am not entitled to the self employed help?

To qualify self employment income has to be more than PAYE income for year 2018/2019.

tracys76

I thought so 
We get a small amount of child tax credit and my partner is still working part time so we can't apply for universal credit either.
Because of the industry I work in we are likely to be one of the last to be able to return to work.

poppy12345

tracys76 said:

I thought so 
We get a small amount of child tax credit and my partner is still working part time so we can't apply for universal credit either.

That doesn't mean you can't apply for UC. Use a benefits calculator to see if you're entitled to anything. Some people are better off on UC than they are on tax credits.

calcotti

poppy12345 said:

tracys76 said:

I thought so 
We get a small amount of child tax credit and my partner is still working part time so we can't apply for universal credit either.

That doesn't mean you can't apply for UC. Use a benefits calculator to see if you're entitled to anything. Some people are better off on UC than they are on tax credits.

But be aware that if you switch to UC then you could be affected by the Minimum Income Floor when it is reinstated (current due in November)

tracys76

It works out that we are better off with tax credits long term hence not going for UC as once we switch to that we can't then go back on TC.

simonb9x

Hi

I went self employed in September 2018 and my self employment was slightly more than 50% for the 2018/2019 tax year.  I have remained self employed full time for the tax year 2019/2020, but of course have not submitted my return yet.  My question is will I be entitled to anything?  As far as tax returns go, I only have 6 months of self employment for 2018/2019 albeit over the 50%.  The fact I have no other self employment records for earlier years matter? i.e 16/17 & 17/18 

TheAble

simonb9x said:

Hi

I went self employed in September 2018 and my self employment was slightly more than 50% for the 2018/2019 tax year.  I have remained self employed full time for the tax year 2019/2020, but of course have not submitted my return yet.  My question is will I be entitled to anything?  As far as tax returns go, I only have 6 months of self employment for 2018/2019 albeit over the 50%.  The fact I have no other self employment records for earlier years matter? i.e 16/17 & 17/18 

Yes you should be. See here: https://www.moneysavingexpert.com/news/2020/04/self-employed-help-coronavirus/

poppy12345

simonb9x said:

Hi

I went self employed in September 2018 and my self employment was slightly more than 50% for the 2018/2019 tax year.  I have remained self employed full time for the tax year 2019/2020, but of course have not submitted my return yet.  My question is will I be entitled to anything?  As far as tax returns go, I only have 6 months of self employment for 2018/2019 albeit over the 50%.  The fact I have no other self employment records for earlier years matter? i.e 16/17 & 17/18 

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme