The fifth self employment income support scheme grant will be available to claim late July 2021, however this grant will be calculated differently. This grant will be determined by how much your turnover has been reduced in the year April 2020 to April 2021. If your turnover has been reduced by over 30%, you will be eligible to claim 80% of 3 months trading profits. However if your turnover has been reduced by less than 30%, you will only be able to claim 30% of 3 months trading profits. HMRC will publish more information on calculating how your turnover has been affected late June 2021. If you need any help or advice please CLICK HERE
SEISS – Part 5 – July Regs.
