HMRC have announced that they will make an announcement on 3 March 2021 regarding the 4th and currently final SEISS Grant.

This will cover the trading period of 30 January 2021 to 30 April 2021.

If you’re self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.

The scheme has been extended. If you were not eligible for the first and second grant based on the information in your Self Assessment tax returns, you will not be eligible for the third or fourth.

HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits.

You can follow these steps to help you understand what you can do now.

1. Find out who can claim.
2. Check that your business has been impacted by coronavirus.
3. Find out how HMRC works out your grant.
4. Find out what happens after you’ve claimed.

Who can claim

To be eligible for the third grant you must be a self-employed individual or a member of a partnership. You cannot claim the grant if you trade through a limited company or a trust.

If you claim Maternity Allowance this will not affect your eligibility for the grant.

You must have traded in both tax years:

• 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
• 2019 to 2020

You must either:

• be currently trading but are impacted by reduced demand due to coronavirus
• have been trading but are temporarily unable to do so due to coronavirus

You must also declare that:

• you intend to continue to trade
• you reasonably believe there will be a significant reduction in your trading profits

Here are HMRC examples to help you decide: examples that can help you decide

If you would like to discuss any points raised in this news bulletin please contact our office and our staff would be pleased to assist.