The fifth Self Employment Income Support Scheme (SEISS)

A fifth grant covering May 2021 to September 2021 will be open to claim from late July 2021, the size of the grant will be made by how much your turnover has been reduced, in the years from April 2020 to April 2021.

The grant is taxable and will be paid out in a single installment

You must have traded in the tax year:

Eligible applicants for the fifth SEISS grant must have been actively trading during the 2019/20 and 2020/21 tax years and submitted their self-assessment tax returns for 2019/20 on or before 2nd March 2021. You must also be actively trading in the current 2021/22 tax year, and intend to continue doing so.

Tax Returns

To work out if you are eligible for the fifth grant, HMRC will look at your 2019/2020 self-assessment tax return before the previous tax year. Your trading profits must be no more than £50,000 and at least equal to your non-trading income.

If you are not eligible based on your 2019/2020 tax return, HMRC will look at the tax years 2016/2017, 2017/2018, and 2018/2019.

Deciding if you can claim

To make a claim, you have to declare that:

You intend to continue to trade, and that you reasonably believe there will be a significant reduction in your trading profits due to reduced business activity, capacity or demand or inability to trade due to coronavirus from May 2021 to September 2021

You are required to keep evidence of how the pandemic has adversely impacted your business, resulting in a significant reduction in business activity that would normally you will be expected otherwise. HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits.

When will the grant be available?

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 based on their tax returns to give them a date from which they can make their claim.

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