Self Employed Income Support Scheme (SEISS) Update

If you are eligible for the latest SEISS grant you have until 30 September to apply.

If you are eligible for the latest SEISS grant you have until 30‌‌ ‌September to apply.

Reporting SEISS grants on tax returns:

SEISS grants are taxable and subject to National Insurance contributions, you should report any SEISS grants receivedon or before 5 April 2021 on the 2020-21 Self-Assessment tax return (filing deadline of 31‌‌ ‌January‌‌ ‌2022).

For most people, this means you need to report the first, second and third grants on the 2020-21 Self-Assessment if they were paid on or before 5 April 2021. The fourth and fifth grants should not be included in 2020-21 returns, as these were paid after 5 April 2021, and should instead go on the 2021-22 return (filing deadline of 31‌‌ ‌January‌‌ ‌2023).

Calculating turnover as a member of a partnership:

HMRC have been asked about customers who joined a partnership between April 2020 and April 2021. If you are in this situation, you need to work out the percentage share of the partnership’s turnover. It will be the same percentage of profit you took from the partnership in the 12-month period from April 2020 to April 2021. If you have other businesses, you should add the percentage share of the partnership to the turnover from these.

What not to include when calculating turnover for the fifth grant:

Anything reported as 'any other income' on tax returns should not be included when calculating turnover for the fifth SEISS grant. This includes things such as Universal Credit, maternity allowances, retirement income and foreign income.

You should also not include any previous coronavirus (COVID-19) support payments in the turnover, even though the payments may be taxable when calculating profit. COVID-19 support payments include:

  • previous SEISS grants
  • Eat Out to Help Out payments
  • local authority or devolved administration grants

See: Work out your turnover so you can claim the fifth SEISS grant - GOV.UK (