Help for newly self employed this year

Craiga1984

I lost my job at the beginning of the year, so finally decided to go it alone, and set up as self employed. I have always been employed directly, so obviously no self assessment tax return, only the usual P60, showing my earning from my employer last year. Is there any help or support for people in the same position as me? Seems as though those who are newly self employed, have been forgotten about. Whereas I know other people who are still working, and also taking the grants, when they're clearly not needed.

Jeremy535897

There is no help for the newly self employed other than the usual benefits (there was a modest hardship grant for Scotland but hardly anyone was eligible for it). Look at a benefits calculator.

poppy12345

Bounce back loan, if your business was established before 1st March 2020. A business account is needed for this. https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan#eligibility

Universal Credit but this will depend on your circumstances. Living with a partner means you need to claim as a couple. If you have savings/capital of more than £16,000 you're excluded from claiming.

A claim for UC will end any tax credits you may already be claiming. Use a benefits calculator to check entitlement.

Just because someone may still be working, it doesn't mean they have been impacted by Covid.