31 Aug

COVID-19 Government Support News: 31st August 2021

Megan
Megan
COVID-19 Government Support News: 31st August 2021

Please note that this update is correct as of the 31st August 2021. If you need any help or have any questions on the below please contact us on 01256 883 012.

How to Work Out Your Turnover so You Can Claim the Fifth Self-Employment Income Support Scheme (SEISS) Grant

For the fifth grant you will need to tell HM Revenue & Customs (HMRC) about your turnover if you traded in 2019 to 2020 as well as any of the following tax years:

  • 2018 to 2019.

  • 2017 to 2018.

  • 2016 to 2017.

Turnover includes the takings, fees, sales or money earned or received by your business.

Before you claim you must:

  1. Work out your April 2020 to April 2021 turnover.

  2. Find your turnover from either 2019 to 2020 or 2018 to 2019 to use as a reference year.

You will need to have both figures ready when you make your claim.

How to work out your April 2020 to April 2021 turnover

You need to work out your turnover for a 12-month period, starting on any date from 1 to 6 April 2020.

You can use one of the following periods:

  • 1 April 2020 to 31 March 2021.

  • 2 April 2020 to 1 April 2021.

  • 3 April 2020 to 2 April 2021.

  • 4 April 2020 to 3 April 2021.

  • 5 April 2020 to 4 April 2021.

  • 6 April 2020 to 5 April 2021.

You should check that your figure is accurate. HMRC will be able to check your figures after you submit your tax return for this period. Your figure must include the turnover from all of your businesses. Please contact us if you need assistance in making the claim.

To read more about this click here. 

Kickstart Scheme Terms and Conditions 

Kickstart Scheme terms and conditions for employers and gateways receiving the Kickstart Scheme grant from the Department for Work and Pensions have been updated effective from 23 August 2021. This version includes a new annex ‘Annex 5: Proof of concept’.

To read more about this click here.

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