Covid Self-Isolation Support Payments

Covid Self-Isolation

If you’ve self-isolated due to coronavirus (COVID-19), you may be entitled to a lump sum payment of £500, under the Self-Isolation Support Scheme in Wales.

Payments received are taxable and exempt from Class 2 and Class 4 NI contributions. If you file a self assessment tax return, payments under this scheme are accounted for as income.

If you’re an employee, include the total of the self-isolation support  scheme payments you’ve  received in the ‘other benefits’ (including interest-free and low interest loans) box of the ‘benefits from your employment’ section of SA102.

You should also report the payments in this way if you’re both employed and self-employed, or employed and a partner in a trading partnership.

  • If your relevant trading  profits for tax year 2020 to 2021  total  £6,475 or more, you’ll pay Class  2  National Insurance contributions.
  • If your profits are £9,501 or more, you’ll also pay Class 4 National Insurance contributions.
  • If you’ve already  submitted your tax return for tax year 2020 to 2021, but  have not made the required adjustments, you should correct this.
  • If you’ve submitted your return online, submit an amendment by completing the appropriate ‘Adjustment to profits chargeable to Class 4 National Insurance contributions’ box.

Further information is available at:

Let’s Talk

If you need help with any of this, please get in touch with our team who are more than happy to advise. Email or ring 01267 237534.

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