The Government is launching a fifth SEISS grant covering May 2021 to September 2021. The grant will be open to claims from late July 2021.
It is taxable and will be paid out in a single instalment.
Guidance for claiming the grant will be available by the end of June 2021.
To be eligible for the grant you must be a self-employed individual or a member of a partnership.
You must have traded in the tax years:
- 2019 to 2020 and submitted your tax return on or before 2 March 2021
- 2020 to 2021
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
The amount of the fifth grant will be determined by how much your turnover has been reduced in the year April 2020 to April 2021.
We’ll provide more information and support by the end of June 2021 to help you work out how your turnover was affected.
| Turnover reduction | How much you’ll get | Maximum grant |
| 30% or more | 80% of 3 months’ average trading profits | £7,500 |
| less than 30% | 30% of 3 months’ average trading profits | £2,850 |
Is this worth me doing? I have just sent through my tax return information for year 2020-21 to Richard so hopefully you can tell me how much my turnover has reduced?