{"id":4077,"date":"2021-04-23T12:20:17","date_gmt":"2021-04-23T12:20:17","guid":{"rendered":"https:\/\/www.bainesjewitt.co.uk\/blog\/?p=4077"},"modified":"2021-04-23T12:20:19","modified_gmt":"2021-04-23T12:20:19","slug":"self-employment-income-support-scheme-fourth-grant-now-live","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/self-employment-income-support-scheme-fourth-grant-now-live\/","title":{"rendered":"Self Employment Income Support Scheme: fourth grant now live"},"content":{"rendered":"<p>Self-employed workers will be able to claim the fourth Self Employment Income Support Scheme (SEISS) Grant from 22 April 2021.<\/p>\n<p><!--more--><\/p>\n<p>Commenting on the launch of the grant, the Institute of Chartered Accountants in England and Wales (ICAEW) said the scheme has opened later than planned to allow HM Revenue &amp; Customs (HMRC) to \u201cmanage demand\u201d.<\/p>\n<p><strong>What is the SEISS?<\/strong><\/p>\n<p>The SEISS is designed to support self-employed people throughout the coronavirus pandemic in a similar fashion to the UK\u2019s landmark furlough scheme.<\/p>\n<p>Under the initiative, eligible self-employed workers can claim 80 per cent of three months\u2019 average trading profits, paid out in a single instalment, capped at \u00a37,500.<\/p>\n<p>To do so, they must declare that the coronavirus pandemic has affected them financially.<\/p>\n<p><strong>Who can apply?<\/strong><\/p>\n<p>Eligibility for the scheme will now be based on submitted 2019\/20 tax return information, meaning you must have traded in 2019\/20 and 2020\/21 and submitted your tax return by 02 March 2021.<\/p>\n<p>This comes in addition to the usual requirements:<\/p>\n<ul>\n<li>Your trading profits must be no more than \u00a350,000 and at least equal to your non-trading income.<\/li>\n<\/ul>\n<p>And you must either:<\/p>\n<ul>\n<li>Be currently trading but are\u202fimpacted by reduced demand\u202fdue to coronavirus; or<\/li>\n<li>Have been trading but are\u202ftemporarily unable to do so\u202fdue to coronavirus.<\/li>\n<\/ul>\n<p>And declare that:<\/p>\n<ul>\n<li>You intend to continue to trade; and<\/li>\n<li>You reasonably believe there will be a significant reduction in your trading profits due to reduced business activity, capacity, demand or inability to trade due to coronavirus.<\/li>\n<\/ul>\n<p>Newly self-employed taxpayers will also have to declare their eligibility by confirming their identity and demonstrating business activity by providing three months\u2019 worth of bank statements.<\/p>\n<p><strong>When can I apply?<\/strong><\/p>\n<p>It is understood that each self-employed worker is being given a personal claim date between 22 and 29 April. HMRC will inform workers when they can apply.<\/p>\n<p><strong>Get expert advice today<\/strong><\/p>\n<p>For help and advice with related matters, please get in touch with our expert team.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Self-employed workers will be able to claim the fourth Self Employment Income Support Scheme (SEISS) Grant from 22 April 2021.<\/p>\n","protected":false},"author":2,"featured_media":4079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,38,24,30,31,60,109,120,121,108,87],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4077"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4077"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4077\/revisions"}],"predecessor-version":[{"id":4078,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4077\/revisions\/4078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/4079"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}