These communications will be sent via email, post or within an individual’s online tax account.
Any eligible self-employed individual will be given their own personal claim date for the fourth SEISS grant, which covers February to April 2021. This date may differ from person to person. However, all claims must be submitted on or prior to 1st June 2021.
For the fourth SEISS grant, claims can only be submitted by the individual and not by a tax agent or accountant on your behalf.
Once again, the fourth SEISS grant will be capped at £7,500 and set at 80% of average trading profits across three months. To qualify for the grant, self-employed trading profits must be no more than £50,000, and at least equal to or more than non-trading income.
Claimants for the fourth SEISS grant must also have sufficient evidence and documentation that their business has suffered from diminished income and demand at the time of their claim. This could be business accounts demonstrating reduced income or documentation revealing cancelled appointments or contracts.
How to make a claim for the fourth SEISS grant
Any self-employed claimant will need the following:
- National Insurance number
- Self Assessment Unique Taxpayer Reference (UTR)
- Government Gateway user ID and password
- UK bank account – including sort code, account number and address linked to the account
Who is ineligible for the fourth SEISS grant?
If a self-employed individual failed to file their self-assessment tax return for the 2019/20 tax year by 3rd March 2021, then they will be ineligible to claim.
When should you receive the fourth SEISS grant?
Providing your claim is successful, the funds should be paid into your nominated bank account in no more than six working days.
Is that the final SEISS grant?
No, there is also a fifth SEISS grant which is scheduled to cover May to September 2021. This will take into account a claimant’s trading position in the 2020/21 tax year.
The fifth SEISS grant will also be worth 80% of three months’ average trading profits – capped at £7,500 – but this will only be available to individuals experiencing a reduction in turnover of at least 30%.
For self-employed professionals with a turnover reduction of less than 30%, the grant will be 30% of three months’ average trading profits, capped at £2,850.
Date published 16 Apr 2021
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