Fifth SEISS grant will be open to claims from late July

The fifth Self-employment Income Support Scheme (SEISS) grant covering May 2021 to September 2021 will open to claims from late July, HMRC has confirmed.

To be eligible for the grant, an individual must be self-employed or a member of a partnership. They must have traded in the tax year 2019/2020 and submitted their tax return on or before 2 March 2021, and also have traded in the tax year 2020/21.

The amount of the fifth grant will be determined by how much an individual’s turnover has been reduced in the year April 2020 to April 2021.

HMRC will provide more information and support by the end of June 2021 to help individuals work out how their turnover was affected.

The online claims service for the fifth SEISS grant will be open from late July 2021. In mid-July HMRC will contact individuals who are eligible based on their tax returns to give them a date from which they can make their claim.

HMRC’s VAT Deferral New Payment Scheme closes 21 June 2021

Businesses that deferred VAT payments last year have less than a month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme, HMRC has warned.

The online portal for the new payment scheme will close on 21 June 2021.

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Fourth Self-Employment Income Support Scheme Grant

The online service to claim the fourth grant will be available from late April 2021.

If you’re eligible based on your tax returns, HMRC will contact you in mid-April to give you a date that you can make your claim from. It will be given to you either by email, letter or within the online service.

You’ll need to confirm you meet other eligibility criteria when you make your claim.

You must make your claim on or before 1 June 2021.

Find out more here

Budget 2021 Overview

 

On 3rd March the Chancellor Rishi Sunak delivered the 2021  Budget.

12 months ago when he delivered his first budget the Coronavirus pandemic had just started but none of us could have imagined the scale of the COVID-19 crisis that lay ahead. The Chancellor’s Budget for recovery focused on continuing and enhancing economic support with initiatives and tax incentives to rebuild the economy and make it more productive and pro-growth.

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