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Self Employed and the fourth Grant

SEISS and the fourth grant! Covering the period 1 February 2021 to 30 April 2021 and can be claimed from late April 2021. HMRC will now take account of profit figures on your 2019/20 tax returns.

The Self-Employment Income Support Scheme (SEISS) has been extended to provide a fourth and fifth grant, which will take account of 2019/20 tax returns. You need to check that you meet all of eligibility conditions:

  • you must carry on a trade which has been adversely affected due to coronavirus;

  • you must have submitted your 2019/20 tax return on or before 2 March 2021;

  • you must have carried on a trade in 2019/20 and 2020/21;

  • you must intend to continue to carry on a trade in 2021/22;

  • you must meet the profits condition for the fourth grant

  • your trade must have suffered reduced activity, capacity or demand in the period 1 February 2021 to 30 April 2021;

  • you must reasonably believe that you will suffer a significant reduction in trading profits for a ‘relevant basis period’ (see below) compared to what you would have reasonably expected if you had not suffered that reduced activity, capacity or demand.

Note that unlike the first three grants under the scheme, if you claim the fourth grant you may need to pay some or all of it back if you amend your tax return.

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