- March 3, 2021
- Posted by: admin
- Category: Uncategorized
The government has announced that they will be offering a fourth SEISS grant, set at 80% of 3 months’ average trading profits, which will be paid in a single instalment, capped at £7500.
The fourth grant will take into account the 2019-2020 tax returns and will be open to those who became self-employed during the 2019 – 2020 tax year. The rest of the eligibility criteria will remain the same as before.
Eligibility for he scheme will now be based on your submitted 2019 – 2020 tax return, which may affect the amount of the fourth grant, which could be higher or lower than previous grants you may have received.
At present we know that you will be able to claim from late July, if you are eligible, and the claim will cover the period May to September 2021.
The fourth grant will be worth:
80% of 3 months’ average trading profits, capped at £7500, for those with a turnover reduction of 30% or more
30% of 3 months’ average trading profits, capped at £2850, for those with a turnover reduction of less than 30%
Further information can be found here: Self-Employment Income Support Scheme fourth grant – GOV.UK (www.gov.uk)