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Support for our Self-Employed Customers

Support for our Self-Employed Customers.

Here at Go Car Credit, we recognise that being Self-Employed in the current climate may be causing you some financial and emotional distress. Some of you may have had to cease working completely whilst others may have seen a dramatic income drop and are forecasting for this to be the case for the next few weeks or months.

We want to reassure you that we are dedicated to giving you the best support possible and we are willing to work with you through this difficult time.

Our Customer Service and Collections teams are having important conversations with all our customers who have been negatively impacted by COVID-19 and are working hard to arrange realistic payment plans and giving our customers tailored and valuable support and options.

To reduce the pressure on these teams we wanted to offer you some alternative resources that may be of interest to you, to hopefully point you in the direction of where you can go to get some financial support until you can get your business up and running again.

Government Support:

The Government has just announced a scheme to support Self Employed workers in this time and the scheme is called the Self-Employed Income Support Scheme (SEISS).

This scheme offers Self-employed workers, the opportunity to apply for grants worth up to 80% of your profits. This is capped at £2500 per month for 3 months.

The difference between a loan and a grant is you don’t have to pay a grant back!

How much you are entitled to depends on how much profit you have declared to HMRC over the last 3 years.

How to qualify:

How does it work:

HMRC will contact those who are eligible as soon as the scheme is ‘operational’ and you will be required to fill in an online form and the grant will be paid directly to your bank.

This payment is likely to be in the form of a lump sum payment in June 2020 (at the earliest).

If you are eligible for this grant but worried about waiting until June 2020 for the payment, or not eligible for SEISS you could consider the following support options:

We would encourage you to review all options available to you before contacting us, as knowing what support you may or not be eligible/entitled to will help us to ensure we are offering the correct solutions and support for you in this difficult time.

All information here was taken from:

https://www.moneysavingexpert.com/news/2020/03/coronavirus-self-employed-and-employment-help/

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#who-can-apply