Fourth round of SEISS now open

The fourth round of the government’s Self-Employment Income Support Scheme (SEISS) is now open. Targeted at self-employed people whose businesses have been harmed by the coronavirus pandemic, it’s vital you make the most of the SEISS if it applies to you. Accessing this fourth round of grants is easy to do, and it can put your business in a better place to survive and prosper.

This round of grants applies to businesses affected by the coronavirus pandemic between 1^st February and 30^th April 2021. Like previous instalments, it will cover up-to 80% of three months’ worth of a business’s average monthly profits, with a maximum pay-out of £7,500.

Are you eligible?

Eligibility for the grant is simple to determine. You must be:

• Self-employed (either as a sole trader or partner in a partnership)
• You must have traded during the 2019 / 2020 and 2020 / 2021 tax years
• You must have submitted your self-assessment tax return for the 2019 / 2020 tax year by 2^nd March 2021
• You must be EITHER trading, but experiencing reduced demand due to the coronavirus OR temporarily unable to trade due to coronavirus

Examples of the kind of impact the government is looking to correct might be that of a self-employed tradesman who was unable to visit customers in their homes due to coronavirus restrictions; or who has tested positive for coronavirus, and therefore had to self-isolate for the required period. In any case, when you apply for the grant, HMRC will expect you to declare an intention to continue trading and that you have a “reasonable belief” that there will be a “significant reduction” in your trading profits for the period covered by the grant.

How to proceed

Making a claim is easy, and can be done online here. It’s important to point out that while we can offer you advice, we are not able to make the claim on your behalf. To make your claim you’ll need your Unique Taxpayer Reference, your National Insurance Number, your Government Gateway user ID, and details of a UK bank account that you would like the grant paid into (account number, sort code, and the address on file).

To learn more about SEISS, or discover other ways we can help you make the most of the support available to you during the coronavirus pandemic, please contact us on 0121 456 0190.