Fifth SEISS Grant Now Available to Claim
The fifth and final Self-Employment Income Support Scheme (SEISS) grant is now open for applications. Eligible self-employed individuals can claim a grant worth up to 80% of three months average trading profits, capped at £7,500.
Claim deadline: You must make your claim for the fifth SEISS grant on or before 30 September 2021. Claims cannot be made after this date.
Eligibility
To be eligible for the fifth SEISS grant, you must:
- Be self-employed or a member of a partnership
- Have traded in the tax years 2019/20 and 2020/21
- Have submitted your 2019/20 Self Assessment tax return by 2 March 2021
- Have trading profits of no more than £50,000 per year on average
- Reasonably believe there will be a significant reduction in your trading profits due to COVID-19
Grant Amount
The amount you receive depends on how much your turnover has fallen:
30%+ Turnover Reduction
If your turnover has fallen by 30% or more, you will receive 80% of three months average trading profits, up to a maximum of £7,500.
Less Than 30% Reduction
If your turnover has fallen by less than 30%, you will receive 30% of three months average trading profits, up to a maximum of £2,850.
How to Claim
Check Your Eligibility
Use the HMRC online checker to confirm you are eligible for the fifth grant.
Gather Your Records
You will need to compare your turnover for April 2020 to April 2021 with previous years to determine the reduction.
Claim Online
Log in to your HMRC account and follow the prompts to submit your claim. You will need your Government Gateway ID.
SEISS grants are taxable income and must be reported on your next Self Assessment tax return. Cloud Bookkeeper can ensure this is handled correctly. Learn about our Self Assessment service.