Self-Employment Income Support Scheme (SEISS) – How to Work out your turnover so you can claim the fifth 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.

See more here: Claim a grant through the Self-Employment Income Support Scheme – GOV.UK (www.gov.uk)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s