Dairy Response Fund 2020 and Second Self Employed Income Support Scheme
Just a quick reminder that the deadline for applying for the Covid-19 Dairy Response Fund 2020 is 11th September.
You can apply for this if:
- you supply cow’s milk to a wholesale purchaser
- you have had a reduction in the average price paid for your milk of 25% or more in the April 2020 compared to February 2020
- the reduction in the price for your milk was on account of the Coronavirus outbreak.
Please note, that payments will NOT be made for May losses alone.
The RPA have stated in their handbook, that anyone who believes they may qualify is encouraged to complete the application form and submit their supporting information. Further details can be found here:
https://www.gov.uk/government/publications/dairy-response-fund-2020
Second Self Employed Support Scheme
The second self-employed income support scheme is also now open to claim. Like the first grant, you are able to claim the grant if your business has been adversely affected by the Coronavirus outbreak on or after 14 July 2020. You must make your claim for the second grant by 19 October 2020.
The government have given further guidance on how a business could be adversely affected https://www.gov.uk/guidance/decide-if-your-business-has-been-adversely-affected-for-the-self-employment-income-support-scheme
As previously mentioned, if you do claim the grant, you need to keep evidence that your business has been adversely affected by Coronavirus at the time you made the claim. Examples of evidence are as follows:
- business accounts showing a reduction in turnover or increase in expenditure
- confirmation of any Coronavirus-related business loans you have received
- dates you or your staff were unable to work due to Coronavirus symptoms, shielding or caring responsibilities
Unfortunately, as accountants we are unable to submit a claim on your behalf and this is down to the individual, however if we can be of any assistance then please do contact us.
The content of this article is for general information only and does not constitute tax advice. It should not be relied upon and action which could affect your business should not be taken without appropriate professional advice.
Louise Heywood FCCA
Manager
Lou has been an integral part of Margaret's team since 2006, bringing with her a wealth of expertise as a qualified Chartered Certified Accountant. With a particular focus on an agricultural portfolio, as well as experience with several Estates, Lou thrives on assisting clients with all facets of accountancy and taxation, ensuring that they receive tailored advice that meets their unique needs.
Outside of her professional pursuits, Lou is a devoted mother to her young daughter, Olivia, with whom she shares a passion for the great outdoors. Together, they relish the opportunity to visit Lou's parents' farm, where they lend a helping hand whenever possible. Lou's enthusiasm for adventure extends to her love of horse riding, and she can often be found cheering on the Exeter Chiefs at Sandy Park.
Lou is available Mondays, Tuesdays, and Thursdays to tackle any query that may arise.