Final SEISS deadline – Submit your claim by 30th September!
If you are applying for the fifth and final grant of the Self-Employment Income Support Scheme (SEISS), you must ensure that your application and any necessary documents are with HM Revenue & Customs (HMRC) by 30th September.
If you fail to submit your claim in time, it will not be processed
Those eligible to make a claim for the fifth SEISS grant need to:
- Apply on or after their personal start date given to them by HMRC
- Tell HMRC that they intend to carry on trading in 2021/22
- Reasonably believe there will be a significant reduction in their trading profits between 1 May and 30 September 2021 due to the pandemic.
Don’t forget the turnover test!
Following changes to the SEISS, there are two levels of grant available, which are dependent on your turnover.
This ensures that those whose turnover fell by:
- 30 per cent or more will continue to receive a grant worth 80 per cent of three months’ average trading profits (capped at £7,500).
- Less than 30 per cent will receive a reduced grant equal to 30 per cent of three months’ average trading profits (capped at £2,850).
The figures used in this calculation are not profit but rather gross sales for all concurrent trades. All COVID-related grants received should be excluded from your turnover figure.
Here to help
While we cannot complete the fifth SEISS application on your behalf, we are happy to provide advice on your turnover.
Interested in discussing your options with one of our expert team? Get in touch today, we are always happy to help!
