One aspect of the recent budget will please self-employed business owners that have previously been unable to claim under the Self-Employed Income Support Scheme (SEISS) as they commenced trading after 5 April 2019.<\/p>\n
As long as you submitted your self-assessment tax return for 2019-20 before midnight 2 March 2021, and you meet the other qualifying criteria – basically that you have been adversely affected by COVID disruption – then you should be able to claim.<\/p>\n
Two grants will be available. The fourth grant under the scheme covers February to April 2021. It is worth three months’ average profits capped at £7,500. It can be claimed from late April.<\/p>\n
The fifth and final grant covers the period from May to September 2021. The amount of the grant will depend on the impact that Covid-19 has had on your profits. If your turnover has fallen by 30% or more because of Covid-19, you will be able to claim a grant equal to 80% of your average profits for three months, capped at £7,500. However, if your turnover has dropped by less than 30%, you will be entitled to a reduced grant of 30% of three months’ average profits, capped at £2,850.<\/p>\n
The final grant can be claimed from late July. At present, this scheme is therefore timed to end 30 September 2021.<\/p>\n
Remember, you can only claim the grant if you have been adversely affected by the pandemic.<\/p>\n
Grants received under the scheme are taxable and must be considered in working out your profits.<\/p>\n","protected":false},"excerpt":{"rendered":"
One aspect of the recent budget will please self-employed business owners that have previously been unable to claim under the Self-Employed Income Support Scheme (SEISS) as they commenced trading after 5 April 2019. As long as you submitted your self-assessment tax return for 2019-20 before midnight 2 March 2021, and you meet the other qualifying […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-1289","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1289"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1289\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}