I was self employed as a sole trader under the CIS scheme until December 20th 2020. I set up a separate limited company in August 2020, with a view to providing an entirely different service to my other self employment. I haven’t had self employment work since Dec 20th and have only had £150 income from the new limited company. I recently applied for and received the SEISS grant for my self employment but to lack of work, I’m currently focusing on trying to get the limited company off the ground, but if I don’t continue earning through my self employment, would that mean I would have to repay the SEISS grant? Having been paid the grant means I am no longer entitled to Universal Credit, so if I had to repay it then I’d be penalised on both counts, no grant and no UC.
Is there a way of not having to repay the grant if I don’t earn any income as a sole trader for the remainder of the tax year? If the limited company works out then I would like to focus on that, but if it doesn’t then I may have to return to being a sole trader again
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