Fifth SEISS grant will be open to claims from late July

To be eligible for the fifth SEISS grant an individual must meet the following criteria. They must be self-employed or be a member of a partnership. They must have traded in the tax year 2019/20. In addition, they should have submitted their tax return on or before 2nd March 2021 and have traded in the tax year 2020/21. Claimants must also either be currently trading but are impacted by reduced demand due to coronavirus or have been trading but are temporarily unable to do so due to coronavirus.

The amount of the fifth grant will be determined by how much an individual’s turnover has been reduced in the year April 2020 to April 2021.

HMRC will provide more information and support by the end of June 2021. This is to help individuals work out how their turnover was affected.

The online claims service for the fifth SEISS grant will be open from late July 2021. In mid-July, HMRC will contact individuals who are eligible. Eligibility is based on their tax returns to give them a date from which they can make their claim.

Danielle Harvey of Harvey, Telford & Bates comments on the SEISS grant:

“This grant provides further support to individuals who meet the eligibility criteria. At HTB we understand that some people may require assistance on this. We are on-hand to help guide you.”

For any assistance on this grant or would like guidance on any other services we offer, please contact our expert team by calling us at 01743 462604. Alternatively, please email us at [email protected]

For more information, please visit the website here