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Self Employed Income Support Scheme (SEISS) – Grant 5

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Self Employed Income Support Scheme (SEISS) – Grant 5

Claims for the fourth SEISS grant have now closed and hot on the heels of this is the guidance for the 5th grant.  

Claiming the fifth SEISS grant 

The claims window for the fifth grant will open from late Ju‌‌ly and from mid-July HMRC will contact taxpayers who may be eligible to let them have a personal claim date.

Latest information on this grant is available on GOV.UK, with more detailed guidance due to be published in late June, including more details of the major change this time around.

Essentially, HMRC are introducing a turnover test. The turnover test will be used to determine the level of the grant (80% or 30%). Here’s how it will work:

  • if your turnover has reduced by 30% or more in the year April 2020 to April 2021, you will receive a grant worth 80% of three months’ average trading profits (capped at £7,500)
  • if your turnover has reduced by less than 30% in the year April 2020 to April 2021, you will receive a lower grant worth 30% of three months’ average trading profits (capped at £2,850).

If you were told by HMRC that you were not eligible for the fourth grant, you will not be eligible for the fifth grant either. This is because the same tax returns have been used to determine eligibility for both grants.

HMRC also contacted a number of taxpayers before claims opened for the fourth grant, to get more information to check their eligibility. Where HMRC contacted someone and they did not provide the requested details, they will need to provide the information asked for if they would like their eligibility to be checked for the fifth grant. 

Once again HMRC will not allow agents to assist with the actual claim but if you need any guidance regarding the turnover test just get in touch.