SEISS Grant Updates
Also announced on 3 March 2021, the government confirmed that there is set to be a fourth Self-Employed Income Support Scheme (SEISS) grant which will be 80% of 3 months’ average trading profits, capped at £7.500.
This new grant will take into account 2019/20 tax returns and means that anyone who became self-employed in the 19/20 tax year is able to make a claim under the scheme if their trading profits have been affected. Claims will be made online from late April and will be paid in one lump sum.
A fifth grant will be available late July and will be determined by reduction in trading profits from April 2020 to April 2021 - the full 80% grant will only be available to those who suffered a reduction in turnover of more than 30%. More information is expected on the fifth grant in due course.
Posted on 03/11/2021 by Ortolan