Self-Employed Income Support Scheme Opening Soon: Update

Self-Employed Income Support Scheme Opening Soon: Update
We now understand from a few sources that HMRC has brought forward it’s timescale for the Self-Employed Income Support Scheme, through which it is hoped many self-employed people, including some childminders, will benefit and be able to claim up to 80% of their profits based on the last three years of their tax returns.

Originally it had been anticipated that communication with HMRC would start later in May for those who may be eligible, followed by payment in June. However, we understand communication from HMRC has started this week; informing potential applicants that the scheme will now open for applications on Wednesday 13 May and for those eligible to be ready for this, with payment possibly starting to reach successful applicants’ accounts from 25 May.

Please look out for communication from HMRC, but also please be aware of scams at this time.

The Accountancy Kids website provides some very helpful information about this, the scheme and what type of communication to expect from HMRC.
In addition, SCMA published an overview of the Financial Support for Childminders alongside our COVID-19 FAQs that you may find useful. Read more