The fourth SEISS is due to open for claims before the end of April – find out more about the fourth and fifth and final SEISS grants here.
The fourth grant will cover the three-month period from February to April 2021 and the online claims service for this grant will be available from late April 2021 – in other words, it is due to be open for claims any day now.
The grant will be set at 80% of three months’ average trading profits, paid out in a single instalment, capped at £7,500.
All claims must be made on or before 1 June 2021.
Fifth and final grant
The fifth and final grant will cover the impact of the pandemic from May to September 2021. It will take into account the individual’s trading position for 2020/2021.
The fifth grant will be worth 80% of three months’ average trading profits, capped at £7,500, for those with a turnover reduction of 30% or more; or 30% of three months’ average trading profits, capped at £2,850, for those with a turnover reduction of less than 30%.
The online claims service for the fifth grant will open in late July 2021.
New claimants eligible
Unlike the first three grants, the fourth and fifth grants will take into account 2019/20 tax returns and will be open to those who became self-employed in tax year 2019/20. Eligibility will be based on 2019/20, or the four-year period spanning 2016/17 to 2019/20. You must have submitted your 2019/20 to HMRC by 2 March 2021 to be eligible.
Claims must be made by the individual and cannot be processed by a tax agent or adviser to claim on your behalf.
Guidance on how to use the scheme, including who can claim and the amount of grant payable, can be found here https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
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