Further Detail Issued About Fifth SEISS Grant

HMRC have issued updated guidance, containing more information about the fifth SEISS Grant which will be available from late July 21

www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

If you’re eligible based on your tax returns, 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 online service to claim the fifth grant will be available from late July 2021.

You’ll need to confirm that you meet other eligibility criteria when you make your claim.

You must make your claim on or before 30 September 2021.

  1. Who can claim
  2. Get ready to claim
  3. How much you’ll get
  4. How to make a claim
  5. How the grant is treated
  6. Other help you can get

The fifth grant is different from previous grants. In most cases, when making your claim you’ll need to tell HMRC about your business turnover so that they can work out your grant amount.

Turnover includes the takings, fees, sales or money earned or received by your business.

To make your claim, you’ll need to have 2 different turnover figures. You’ll need to work out your turnover for:

  • a 12-month period starting between 1 April 2020 and 6 April 2020
  • either 2019 to 2020 or 2018 to 2019

HMRC will compare these figures to work out how much you’ll get.

Find out how to work out your turnover so you can claim the grant.

There are 2 levels of grant. HMRC will work out your grant amount based on how much your turnover is down by after we’ve compared your 2 turnover figures.

If your turnover is down byYou’ll getMaximum grant amount
30% or more80% of 3 months’ average trading profits£7,500
less than 30%30% of 3 months’ average trading profits£2,850

You can find our full Covid-19 Business Support Toolkit

Covid-19

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