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Recent Posts
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Chancellor Kwasi Kwarteng announces his ‘mini-budget’ with major tax cuts
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Key points of October 2021 Budget from the Chancellor’s Autumn Budget and Spending Review
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Self-Employment Income Support Scheme (SEISS) fourth grant – Applications must be made by 1 June
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New Stamp Duty rates for non-UK residents
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Highlights of 2021 Spring Budget announced by Chancellor of the Exchequer Rishi Sunak
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Make a Time to Pay arrangement or pay tax by 1st April to avoid Self Assessment Late Payment Penalties
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New rules for business travellers, cash declarations and on social security following UK’s exit from Europe.
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No late filing penalty for Self Assessment 2019-20 tax return filed until 28th February.
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Are you affected by coronavirus ‘reasonable excuses’ to meet Self Assessment deadline 31 Jan?
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New lockdown grants to support retail, hospitality and leisure businesses worth up to £9,000 per property
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CJRS (Furlough scheme) has been extended to end of April 2021
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NHS & Healthcare workers tax refunds – Claim tax relief for your job expenses now.
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Self-Employment Income Support Scheme (SEISS) third grant up to £7500: Applications now open
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Spending Review 2020 – National Living Wage will increase & NHS Doctors and nurses will get a pay rise.
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Applications for the fourth Self-Employment Income Support Scheme (SEISS) must be made by the 1 June at the latest. Applicants will still have to make this application themselves.
HMRC have clarified those taxpayers who have tax debt can still claim the SEISS grants. Any SEISS grants received must be included on the taxpayer’s tax return. The first, second and third grants will be included on the 2020-21 tax return and the fourth and fifth grants must be included on the 2021-22 tax return.
If you have made an amendment to your tax return on or after 3 March 2021, then you must check if the amendment affects your eligibility for the SEISS grants (this only applies to the fourth and fifth grants). HMRC must be notified within 90 days if there is an amendment made on or after 3 March 2021 to returns for the tax years 2016-17 and 2019-20, which either; reduces the amount of the fourth grant you are eligible for; or, causes you be no longer eligible for the fourth grant.
There is however, no requirement to notify HMRC if the amendment lowers the grant by £100 or less. If you are required to notify HMRC and this is not done within 90 days of submitting the amendment, you will have to pay back some or all of the grant and penalties will also apply.
What you’ll need to make your claim
- Self Assessment Unique Taxpayer Reference (UTR)
- National Insurance number
- Government Gateway user ID and password
- UK bank details including account number, sort code, name on the account and address linked to the account
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23. January, 2021.
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19. October, 2020.
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Thomas Mathew
13. October, 2020.
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7. October, 2020.
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Tags: Economic Support, Grants, SEISS, Self-Employment Income Support Scheme
Categories: Business Support, Coronavirus Scheme, Self-employed Income Support Scheme
Categories: Business Support, Coronavirus Scheme, Self-employed Income Support Scheme
