Self-Employment Income Support Scheme (SEISS) Fourth Grant
On 3 March 2021, the Chancellor announced that there will now be the opportunity for self-employed individuals to apply for the SEISS Fourth Grant between late April and 31 May 2021.
To be eligible for the Fourth Grant you must:
- be either a self-employed individual or a member of a partnership
- have had trading profits not in excess of £50,000 and at least equal to you non-trading income according to your 2019/20 Self Assessment tax return
- have been trading in both 2019/20 and 2020/21 tax years
- have submitted your 2019/20 tax return by 2 March 2021
- be currently trading, but are impacted by reduced demand due to coronavirus or have been trading but are temporarily unable to do so due to coronavirus
- declare that you intend to continue to trade, or that you reasonably believe there will be a significant reduction in your trading profits due to reduced business activity due to coronavirus
The Fourth Grant will provide a taxable grant calculated at 80% of three months’ average trading profits. It will be paid out in a single instalment and will be capped at £7,500 in total.
The HMRC SEISS claims portal will be available from late April 2021 until 31 May 2021. HMRC will contact eligible individuals to issue each person with a personal claim date, which is the date they will be able to make their specific claim from.
HMRC will release further advice about how to claim in due course.