Self Employment Income Support Scheme Grants


HMRC are inviting those individuals that are self employed or a member of a partnership and have been adversely affected by coronavirus to claim a second grant under the Self Employed Income Support Grant.

Applications for the first grant under the scheme closed on 13 July 2020.

The second and final taxable grant is worth 70% of an individual’s average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,570 in total.

Applications for the second and final grant are now open. The grant is only available to businesses that have been adversely affected on or after 14 July 2020. Taxpayers must make a claim for the second grant on or before 19 October 2020.

HMRC will work out businesses’ eligibility for the second grant in the same way as the first grant.

Taxpayers are able to make a claim for the second grant if they are eligible, even if they did not make a claim for the first grant.

HMRC have confirmed that taxpayers can:

  • continue to work
  • start a new trade or take on other employment including voluntary work and duties as a military reservist.

The grant does not need to be repaid if a taxpayer is eligible, but will be subject to both income tax and self employed National Insurance.

Internet link: GOV.UK SEISS guidance

Kickstart Scheme opens for applications


On 2 September 2020, the government’s £2 billion Kickstart Scheme opened for employer applications.

The scheme is part of the Plan for Jobs announced during Chancellor Rishi Sunak’s July Summer Economic Update.

The Kickstart Scheme aims to create work placements for young people who are at risk of becoming unemployed for the long-term. Businesses can join the scheme, with the government paying employers £1,500 to help set up support and training. Funding is available following a successful application process. Applications must be for a minimum of 30 job placements.

Businesses that are unable to offer this many job placements can partner with other organisations to reach the minimum number.

Selected out-of-work young people will be offered six month work placements for at least 25 hours a week to help them gain experience, skills and confidence. The scheme is designed to be a stepping stone to further employment.

Employers will receive funding for 100% of the relevant National Minimum Wage (NMW) for 25 hours a week, plus associated employer national insurance contributions (NICs) and employer minimum auto-enrolment pension contributions.

Chancellor Sunak said:

‘This isn’t just about kickstarting our country’s economy – it is an opportunity to kickstart the careers of thousands of young people who could otherwise be left behind as a result of the pandemic.

‘The scheme will open the door to a brighter future for a new generation and ensure the UK bounces back stronger as a country.’

Internet link: GOV.UK

Green Vehicles


With the news dominated by COVID 19 and the grants and funding available to help through the pandemic, the initiative on electric cars may have been missed or overlooked.

The pandemic has made us be more aware of our environment. Now we want to look at ways that the environment can be protected and rebuilt. We have seen more wildlife during lockdown and many of us have taken to greener ways of travelling around This may be walking, running and cycling. We are enjoying the countryside after the release from lockdown.

Which leads us to the governments initiative to ban anything but electric cars by 2040. This is still in place. Our choice on electric cars is increasing with more and more options to choose from. They are also getting better in that the electric range is increasing all the time.

Green Vehicles Government Incentives

The government currently offers a £3500 incentive off the price for an electric car. Zero emissions cars costing less than £40,000 are also exempt from paying road tax.

There are also significant company car P11D benefits for electric cars registered after 6th April 2020.  For electric cars, the Benefit In Kind rate is 0% for the 2020/21 financial year; previously it was 16% for the 2019/2020. This rate increases based on the vehicles mileage range.

If we look at a Nissan leaf this could save you almost £5000 in tax for the 2020/21 tax year.

Look here for full details of the company car tax rates. This is for vehicles registered after 6th April 2020.

Green Vehicles a personal perspective

Why not look into the benefits of an electric car and contribute to improving the environment?

From a personal point of view we are currently on our second electric car and we love them, they are quick reliable and cheap. Both vehicles were supplied by Bowker BMW in Preston. We benefited from the government grant on the car purchase and a grant on the installation of a charging point. So if you want a first hand impression of the electric vehicle connect on LinkedIn.

As a company it is also possible to install charging points at your company premises. Their use could then be charged out to other electric car users. This may provide a modest income but certainly a return on your investment.

For details of tax rates applicable to various cars and how it would affect your personal and company tax bills please contact us for further information info@mcgintydemak.co.uk or call 01942 322767

Green Vehicles BMW i3
Connect on LinkedIn

Time to Mask Up


Monday is the day. From the 8th August visitors arriving at Vermont House will be required to wear a face covering. This is in line with changes in Government guidance. All our arrangements remain the same as we continue to work safely whilst continuing to provide services to our clients.

Please remember to book an appointment in advance to deliver and collect books and records.

Meeting and consultations remain online or over the phone.

Only one visitor to appointment.

Time to mask up

Overclaimed COVID grants


Taxpayers who have received CJRS or SEISS grants are urged to doublecheck their entitlement as the 90 day period to inform HMRC of any overclaimed amounts is now law.

Finance Act 2020 includes legislation that the Coronavirus Job Retention Scheme (CJRS), Self-employment Income Support Scheme (SEISS), Coronavirus Statutory Sick Pay Rebate Scheme and coronavirus business support grants are taxable. As well as including HMRC powers to recover grant payments to which the taxpayer is not entitled and penalty provisions.

HMRC has published guidance on how to repay overclaimed grants. This guidance confirms that the onus is on the taxpayer to notify HMRC if they have overclaimed a CJRS or SEISS grant and this must be done by 20 October 2020 or 90 days of receipt of the grant, whichever is the later.

Internet links: CJRS guidance SEISS guidance

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