HMRC have updated their guidance around the Self-employed Income support Scheme. The updates include:
1. Detail of the treatment of losses, averaging and multiple trades
2. Clarifications on the calculation of self-employed profits and what is meant by total income
3. Confirmation that individuals are able to continue working, including taking on employment role
4. Confirmation that owner-managers of limited companies can access the Coronavirus Job Retention Scheme (CJRS) for their salary
5. Confirmation that individuals can access Universal Credit and the SEISS
6. Clarification on overlaps between the SEISS and CJRS (for example, you can claim the SEISS and continue working).
How to claim through the scheme