The fifth Self-Employment Income Support Scheme (SEISS) grant is opening for claims and available to those who believe their business profit has been impacted by Covid-19 between 1 May 2021 and 30 September 2021 (and meet the eligibility criteria). The final day that claims can be made is 30 September 2021. While we can’t make a claim on your behalf, we are here to answer any questions you might have.
To make the claim, you will need to provide the following to HMRC:
- A turnover figure for the 12-month period of April 2020 to March 2021.
- A 12-month turnover figure for 2019 to 2020 or 2018 to 2019.
The amount of the fifth grant will be determined by a turnover test, which considers how much your turnover has gone down by in the 2020 to 2021 tax year due to the pandemic.
If your turnover was down by 30% or more in 2020 to 2021, you will receive a grant worth 80% of three months’ average trading profits (capped at £7,500). If your turnover was down by less than 30%, you will receive a grant worth 30% of three months’ average trading profits (capped at £2,850).
If your turnover increased, you may still qualify for the 30% grant. You’ll still need to reasonably believe that, due to reduced demand or inability to trade between 1 May and 30 September 2021, you will suffer a significant reduction in trading profits.
Please do get in touch if you’ve got any questions tel: 01580 313108
The fifth Self-Employment Income Support Scheme (SEISS) grant is opening for claims and available to those who believe their business profit has been impacted by Covid-19 between 1 May 2021 and 30 September 2021 (and meet the eligibility criteria). The final day that claims can be made is 30 September 2021. While we can’t make a claim on your behalf, we are here to answer any questions you might have.
To make the claim, you will need to provide the following to HMRC:
- A turnover figure for the 12-month period of April 2020 to March 2021.
- A 12-month turnover figure for 2019 to 2020 or 2018 to 2019.
The amount of the fifth grant will be determined by a turnover test, which considers how much your turnover has gone down by in the 2020 to 2021 tax year due to the pandemic.
If your turnover was down by 30% or more in 2020 to 2021, you will receive a grant worth 80% of three months’ average trading profits (capped at £7,500). If your turnover was down by less than 30%, you will receive a grant worth 30% of three months’ average trading profits (capped at £2,850).
If your turnover increased, you may still qualify for the 30% grant. You’ll still need to reasonably believe that, due to reduced demand or inability to trade between 1 May and 30 September 2021, you will suffer a significant reduction in trading profits.
Please do get in touch if you’ve got any questions tel: 01580 313108
