For over 30 years Richard Edwards Group has been providing excellent advice and a first class service to our clients. We have a large portfolio of clients and service businesses across many sectors. Book one of our FREE INITIAL MEETINGS to start benefiting from our expertise today.

SEISS claims deadline in a few days

Source: HM Revenue & Customs | | 23/09/2021

The final deadline for making a claim under the 5th Self-Employment Income Support Scheme (SEISS) is 30 September 2021. The SEISS scheme is only open to those self-employed with annual profits of less than £50,000 and who receive at least half their income from self-employment. 

Self-employed persons whose turnover has fallen by more than 30% will qualify for an 80% grant, capped at £7,500. Those with decreases in turnover of less than 30% are restricted to a 30% claim, capped at £2,850. When making a claim, the online service will ask for turnover figures and compare them. The claims service will then tell the applicant if they can claim the higher or lower grant amount.

The turnover figures will be used to compare turnover in the pandemic year from April 2020 – April 2021. This ‘pandemic’ year turnover should then be compared to a previous year's turnover, known as the ‘reference’ year. For most self-employed the turnover reported in 2019-20 should be used as the reference year. However, this is not always the case and if 2019-20 was not a normal year for the business in question, the turnover reported in 2018-19 can be used. 

COVID-19 support payments such as previous SEISS grants, and local authority or devolved administration grants should not be included in the turnover figure. 



 

Latest News

Have you claimed your Child Trust Fund cash?
14/10/2021 - More...
Young persons who turned 18 on or after 1 September 2020 may have cash waiting in a dormant Child Trust Fund (CTF) account. This could be as much as or more than £1,000. The actual

Letting agencies and the Money Laundering Regulations
14/10/2021 - More...
HMRC is responsible for the money laundering supervision of certain businesses including letting agencies. Businesses that HMRC is responsible for supervising should be aware of


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the Newsletter
» Login