Just to add to the other answers, the eligibility criteria for the first 2 rounds of Self Employment Income Support were:
- You can claim a grant if you’re a self-employed individual or a member of a partnership and your business has been adversely affected due to coronavirus.
- All of the following must also apply:
you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
you traded in the tax year 2019 to 2020
you intend to continue to trade in the tax year 2020 to 2021
- You cannot claim the grant if you trade through a limited company or a trust.
- If you claim Maternity Allowance this will not affect your eligibility for the grant.
To work out your eligibility the gov. will first look at your 2018 to 2019 Self Assessment tax return. Your trading profits must be no more than £50,000 and at least equal to your non-trading income.
If you have traded for all 3 tax years
To work out your average trading profit they add together all profits and losses for all 3 tax years that you’ve had continuous trade, then divide by 3.
If you did not trade in the tax year 2016 to 2017, to work out your average trading profit we add together all profits and losses for the tax years 2017 to 2018 and 2018 to 2019, then divide by 2.
If you did not trade in the tax year 2017 to 2018, they will work out your average trading profit based on the tax year 2018 to 2019 only, even if you traded in the tax year 2016 to 2017.