New Year support from the self-employed scheme - Taxi trade updates

Dear Trade Reps and Operators

We would like to take this opportunity to wish you a happy new year and provide some (hopefully) useful information to support you in these continued challenging times.

We have been made aware that the Government has increased the level of support from the self-employed scheme to 80% of previous earnings, and we would therefore advise you / your drivers to apply for SEISS through the government along with other self-employed workers.  This extension will last for 6 months, from November 2020 to April 2021.  Grants will be paid in 2 lump sum instalments each covering a 3 month period. The latest grant will cover a 3 month period from 1st November 2020 until 31st January 2021.

The government will provide a taxable grant calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. This is an increase from the previously announced amount of 55%.

There will be a fourth grant covering February 2021 to April 2021. Further details will be available in due course. The grants are taxable income and also subject to National Insurance contributions. Please note if you weren’t eligible for the first and second grant based on the information in your Self Assessment tax returns, you will not be eligible for the third.  More information on the SEISS can be found at the following:

• Check if you can claim a grant through the Self-Employment Income Support Scheme

Also,  the Government has updated their advice and guidance for taxi’s and private hire vehicles.  A link to the guidance can be found below:

• Coronavirus (COVID-19): taxis and PHVs

If you require any further information or support, please contact us at licensing.unit@bolton.gov.uk.