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:
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 ACCA
Lou has worked with Margaret since 2006 and is a qualified Chartered Certified Accountant. Lou enjoys assisting farmers with all aspects of accountancy and taxation needs. Lou can be reached in the office on a Monday or Tuesday and Thursday.
In her spare time Lou enjoys helping out on her parent’s dairy farm and riding her horse.