Martin Lewis’ £14,000 cost warning to all UK mother and father

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Martin Lewis' £14,000 payment warning to all UK parents


Everybody’s favorite Cash Saving Professional, Martin Lewis, has put out a warning to folks throughout the UK.

He’s urgently warning that these with kids have simply days left to behave or threat shedding out on grants of as much as £14,000, funded by the federal government.

In his weekly Cash Saving Professional e-newsletter, he stated: “The deadline to use for the 2nd Self-Employment Revenue Assist Scheme grant is that this Monday (19 Oct.

“DON’T assume you do not qualify.”

The scheme provides a non-repayable, taxable grant, value as much as £6,570, made up of three months’ value of 70 per cent of common buying and selling income.

Nevertheless, in line with The Mirror, some mother and father can get as a lot as £14,000.

Enter your postcode under for the newest information the place you reside:

It is because, beneath the unique guidelines, new mother and father who did not submit a 2018/19 tax return – or posted buying and selling income that have been lower than 50 per cent of their revenue – weren’t eligible to assert.

Nevertheless, this a part of the foundations modified in August, that means these mother and father can now, in actual fact, apply for the grant.

HMRC stated it’s going to use your 2016/17 and 2017/18 tax returns to work out eligibility in case you have been pregnant, gave start or caring for a kid beneath the age of 1 – or had adopted a baby who had been with you for lower than a 12 months.

Dad and mom additionally have to have been self-employed in 2017/18 and submitted a tax return for the 12 months earlier than April 23, 2020.

The complete pointers on who can declare the grants may be discovered right here.

Martin additionally shared some reassuring phrases for individuals who have been frightened as as to whether or not they’d qualify for the scheme.

He stated: “HM Income & Customs ought to’ve contacted those that are eligible, however many could also be postpone making use of, as it’s worthwhile to declare an opposed affect on account of COVID-19 since 14 July.

“But do not panic, as that would simply be, say, a discount in commerce, employees sickness, or additional PPE prices.”

It will not be the final time you’ll be able to declare for lack of work both.

Two extra grants will likely be made accessible, one to cowl the three months from November to January, and a second to cowl February by way of to April.

However there is a slight catch – the following grant is simply value 20 per cent of common month-to-month income, as much as a complete of £1,875, somewhat than the 70 per cent as much as £6,750 which the final one was.

There’s an opportunity the second grant in January will likely be value extra, nevertheless, with the Treasury saying “it might be adjusted to reply to altering circumstances.”

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