Taxi Drivers and other self employed citizens will receive help from the UK government during the Pandemic Crisis
The Chancellor has announced a Grant very similar to that awarded to regular employees recently.
247 Cars is explaining the process in very simple terms to it’s drivers below.
To be Eligible for the Grant You have to:
Be Self Employed already with a 2019 Self Assessment Form
Earn Less Than £50,000 per year
What if I became self employed last week?
You cannot apply for this Grant as It maybe very difficult to work out your income.
Limited Company Owners CANNOT apply for this Grant. This means 247 Cars owners will not receive any help.
I missed Jan 2020 Self Assessment Deadline Can I still apply?
You have 30 days to get your Tax return submitted and then you can still apply.
How will Grant be worked out?
Amount claimable will based on 80% of average PROFIT over your last three tax returns
At least half your income needs to be from self employment.
Whats The Maximum amount I can get?
You can get up to £2500 per month for 3 months initially
The Grant is Taxable and needs to be declared on your next Tax Return.
When can I get the Grant?
The target for getting Grant paid to you is the beginning of June 2020
Grant will be backdated to 1st March 2020 and paid into your bank account.
How do I apply for the Grant?
You do not have to apply, HMRC will contact you if you are eligible.
A simple form will have to be submitted online.
Can I carry on working if I get the Grant?
Yes, self employed taxi drivers CAN carry on working unlike regular employees who cannot