HMRC has begun the process of contacting sole traders who are eligible for the next Self Employment Income Support Scheme (SEISS) grant to provide them with a date to apply.
The tax authority will be getting in touch with those who could be entitled to apply for this grant – the fourth of the SEISS payments provided by the government – using its online service or by letter or email. As with the earlier SEISS payments, this one will be calculated based on tax returns, and the most recent return from January this year is set to be factored in when determining the amounts.
Again, as with the previous grants, applicants will have to claim themselves rather than asking an agent, such as an accountant for sole traders from Doncaster or whatever region they live in to do it. Anyone getting an agent to apply on their behalf will activate a fraud alert, leading to a delay in receiving their grant. However, an accountant is allowed to help applicants.
This fourth SEISS payment will once more be equivalent to 80% of an applicant’s average business profits over a three-month period. The maximum amount that will be available for a single claimant is £7,500. A fifth and final grant to cover the period between May and September will be made available later this year.
HMRC has stated that its online claim service will be open to applications from the end of this month, and anyone wishing to apply must do so by June 1st.