If you were unable to apply for the current Self-Employed Support Scheme, the Minister for the Economy has announced a support scheme for those have recently become self-employed (sole traders and those in partnerships) who have been adversely impacted by Covid-19.  The NSESS has been administered by Invest Northern Ireland on behalf of the Department for the Economy.

Who is eligible?

  • Sole traders or individual members of partnership operating in Northern Ireland.

You must provide evidence of the following criteria:

  • Commencement of trading must have been between 6th April 2019 and 5th April 2020.
  • You must have been trading at 1st March 2020.
  • You must have been unable to trade or trading at reduced demand due to Covid-19.
  • Over 50% of your income in 19/20 tax year was from self-employment.
  • You must provide a P45 from previous employer if you moved from PAYE to self-employment during 19/20 tax tear, you do not need to consider paid employment when calculating this percentage.
  • 19/20 tax year trading profits were less than £50,000. This will refer to your share of trading profits in a partnership.
  • You have experienced at least a 40% decline in trading profits between 1st March and 30th November 2020.
  • You intend to continue to trade as self-employed.
  • You must provide your 10-digit Unique Taxpayer Reference and HMRC VAT Registration Number, if you are VAT Registered.

Who cannot apply?

  • You submitted a 18/19 tax return which included income from self-employment.
  • You received support from the Self-Employment Income Support Scheme.
  • Your business has failed to comply with a Covid-19 prohibition noticed served by the PSNI.

How to apply?

To check eligibility and apply, please follow link below:

https://www.investni.com/newly-self-employed-support-scheme

NSESS will close to applicants on Friday 5th February 2021 at 6pm.

If you need advice just email the Ross Boyd Chartered Accountants team on info@rossboyd.co.uk or call us on 02895 320155.

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