With the Chancellor announcing an extension of the Self-Employment Income Support Scheme (SEISS), please remember;
You must keep a copy of all records in line with normal self-employment record keeping requirements, including:
- the amount claimed
- the claim reference number
You should also keep any evidence demonstrating how your business has been adversely affected by coronavirus such as:
- business accounts showing a reduction in turnover
- confirmation of any coronavirus-related business loans you have received
- dates your business had to close due to lockdown restrictions
- dates you or your staff were unable to work due to coronavirus symptoms, shielding or caring responsibilities due to school closures
You will need to report the grant:
- on your Self-Assessment tax return
- as self-employed income for any Universal Credit claims
- as self-employed income and that you’re working 16 hours a week, as changes to your tax credits claims