5th Self-Employment Income Support Scheme Grant (SEISS) – Can You Claim?
Posted 21/07/2021
The same basic eligibility applies as for the previous grants:
- Must have traded in 2019/20 & 2020/21 tax years
- Submitted your 2019/20 tax return on or before 2nd March 2021
- Trading profits of no more than £50,000
- Trading profits at least equal to your non-trading income
n.b. you do not have to have claimed previous grants to claim the 5th SEISS grant
To consider if you can claim for the 5th grant you must:
- Intend to keep trading in 2021/22
- Reasonably believe there will be a significant reduction in your trading profits due to the impact of COVID-19 between 1 May 2021 and 30 September 2021
- Either:
- Be currently trading but are impacted by reduced demand due to coronavirus (Covid-19)
- Have been trading but are temporarily unable to do so due to Covid-19
Information you will need to claim:
- Your turnover from April 2020 to April 2021
- Your turnover from April 2019 to April 2020
How much you will receive:
- If your turnover has reduced by 30% or more when comparing the above two turnover figures, you will receive 80% of 3 months average trading profits up to a maximum of £7,500
- If your turnover has reduced by less than 30% when comparing the above two turnover figures, you will receive 30% of 3 months average trading profits up to a maximum of £2,850
How to make a claim:
- HMRC will contact you in mid-July to give you a date that you can make your claim from. It will be given to you either by email, text message, letter or within the online service
- The claim service for the 5th grant will be open from late July and will close on 30 September 2021.
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