When will the Government Gateway for Claims open for the SEISS application? The most recent revision

0

When will the Government Gateway for Claims open for the SEISS application? The most recent revision

This year, SEISS, the government’s flagship self-employment assistance program, will award one more grant to qualifying claimants. So, when will the government’s claims portal open?

The Self-Employment Income Support Scheme (SEISS) fifth grant was announced by Chancellor Rishi Sunak in the Budget earlier this year, much to the pleasure of business owners. For many struggling self-employed people across the UK, the taxable grants have been a lifeline. However, because lockdown limitations are relaxing, the program is likely to end in September 2021. The sixth SEISS grant will cover the months of May to September, but it will only be worth a percentage of average trading profits over three months.

The Government website’s online SEISS guidance was last updated on June 25.

HMRC notified a postponement of the anticipated date for the publication of more information on the fifth award as part of the update.

More information on SEISS grant five was supposed to be revealed in “late June,” but now prospective SEISS claimants should expect more information in “early July 2021.”

Despite the lack of specifics, it is evident that the fifth grant will be unlike any of the prior grants under the scheme.

Prospective To be eligible for an SEISS grant, claimants must be able to demonstrate that their firm has been impacted by coronavirus.

“The fifth grant is extremely different because it’s dependent on how much your firm has actually been damaged by the pandemic,” Ami Copeland, Director of Communications for The Institute of Certified Bookkeepers (ICB), told This website.

“You must be able to demonstrate that reduced business activity, capacity, demand, or inability to trade owing to coronavirus had a significant impact on your trading earnings from May to September 2021.

“Keeping up-to-date data is critical, and you’ll need to be able to quantify how much your turnover has decreased as a result.”

SEISS grant number five offers a significantly higher sum than previous grants under the system.

“Like grant four, SEISS award five takes into account profit data from 2019/20 tax returns,” Amanda Lennon, an employment partner at Spencer West, explained to This website.

“However, these must have been submitted by March 2, 2021, at midnight. The previous SEISS grants did not take 2019/20 trading results into account, called “Brinkwire Summary News”.

Share.

Leave A Reply