Claims for the 5th Self Employment Income Support Scheme (SEISS) closes 30 September 2021

The 5th SEISS is for self-employed businesses whose profits are impacted by Covid between 1 May 2021 and 30 September 2021.

Where business turnover is down by 30% or more, a maximum grant of £7,500 is available calculated as 80% of 3 months average trading profits. The maximum grant is reduced to £2,850 where business turnover is down by less than 30%.

Who is eligible?

Stages 1, 2 and 3 of the criteria below must be met to be eligible.

Stage 1

You must be a self-employed individual or a member of a partnership.

You must also have traded in both tax years:

  • 2019 to 2020
  • 2020 to 2021

Stage 2

You must have:

  • submitted your 2019 to 2020 tax return on or before 2 March 2021
  • trading profits of no more than £50,000
  • trading profits at least equal to your non-trading income

Stage 3

When you make your claim you must tell HMRC that you:

  • intend to keep trading in 2021 to 2022
  • reasonably believe there will be a significant reduction in your trading profits due to the impact of COVID-19 between 1 May 2021 and 30 September 2021

You will need 2 different turnover figures to make a claim:

  • April 2020 to April 2021
  • either 2019 to 2020 or 2018 to 2019

How to claim

Claim online through the portal. You will need your Self-Assessment Unique Taxpayer Reference (UTR), National Insurance number, Government Gateway user ID and password, UK bank details

Tax implications of taking the grant

The grant does not need to be repaid if you’re eligible but will be subject to Income Tax and self-employed National Insurance and must be reported on your 2021 to 2022 Self-Assessment tax return.