Fifth Grant of Self Employed Income Support Scheme Announced
The government has announced details of the fifth grant under the Self Employment Income Support Scheme.
Eligible self employed individuals are able to claim from late July 2021 with guidance on how to claim available later this month.
When claiming this grant you must declare that:
- you intend to continue trading, and
- 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 from May 2021 to September 2021.
The amount of the fifth grant will be determined by how much your turnover has been reduced in the year April 2020 to April 2021. The maximum value is £7,500 (the amount involved is taxable).
If you’re eligible based on your tax returns, HMRC will contact you in mid-July 2021 to give you a date that you can make your claim from.
Please click here to find out more. If you have any queries, please contact us. We’re here to help.