Self-Employed Income Support Scheme – 4th grant February to April 2021

Self employed carpenter working

Look out for communication from HMRC April 2021

HMRC will be contacting you in mid-April to let you know if you are eligible to claim the 4th SEISS grant for the quarter ending 30 April 2021.  This will be sent by letter, email or within HMRC’s online service and it will advise you of the earliest date you can make your claim.

 

Before making your claim

To make your claim you will need to gather together the following information:

  1. Your self-assessment unique taxpayer reference (UTR)
  2. National Insurance number
  3. Government Gateway user ID and password
  4. Your UK bank details including sort code, account number, name on the account and address linked to the account.

You may also need to answer questions about your passport, driving licence or other information held on your credit file.

 

You may need to back up your claim

You will need to keep evidence that your business has suffered reduced activity. For example, business accounts show reduced activity, records of cancelled contracts or appointments, record of any dates you suffered reduced activity due to lockdown or similar government restrictions.

Additionally, you will need to keep details of the following:

  1. A record of dates you had to close due to government restrictions
  2. NHS Test and Trace instructions if self-isolating
  3. NHS instruction to shield
  4. Test results if diagnosed with coronavirus
  5. Letters from school regarding closures that required you take on additional child care

 

Making your claim

You can only apply online, and the online service is timed to open from late April 2021. Your letter from HMRC will advise you of the earliest date you can apply.

You must make the claim personally, we cannot do this for you.

Once you have completed the claims process you should receive your grant within 6 days.

Source material: https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

 

How we can help

Remember, you can only claim the grant if you have been adversely affected by the pandemic, and grants received under the scheme are taxable and must be considered in working out your profits.

If you are unsure how to proceed please call us.

Although we cannot directly make claims for clients, we can help if you are unsure if you should make a claim or you are having difficulty completing the online application process.

The Steven Burton & Co team are here to help you.  If you need a sounding board, some advice or a steer in the right direction, then please don’t hesitate to get in touch .

This material has been prepared for informational guidance purposes only.  Whilst every effort has been made to ensure the contents are accurate, information contained may not be comprehensive.  Furthermore it is not intended to provide, and should not be relied on for, tax or accounting advice.  Steven Burton & Co Limited can not accept any liability for any errors or omission or for any person acting on or refraining from acting on the information provided.

David Rudd

David is an Accountant with over 15 years’ experience in helping a large number of different business owners in numerous sectors from consulting agencies to every area of construction you can think of.

At home dealing with numerous different types of accounting software from Xero to QBO and everything in between.  David is always on the lookout for new technology to help business owners to create more time for themselves and their teams.

With a healthy ambition of never resting on the results of yesterday, David is at his best when working with ambitious business owners who want to improve their businesses for eventual sale.

In his spare time, David is often found cheering on his two boys at football, building Lego (which he pretends is for his boys) or watching the latest TV series on Netflix.

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