SEISS latest updates

Here are the SEISS latest updates ahead of the 30‌‌th of ‌September deadline to claim the fifth and final Self-Employment Income Support Scheme (SEISS) grant.

Preparing turnover figures for the fifth SEISS grant

The majority of people applying for the fifth SEISS grant need to tell HMRC their turnover for the:

‘reference period’ (this needs to be based on a 12-month period, including the total turnover for all of their businesses, and in most cases can be taken from the 2019-20 or 2018-19 tax return)
‘pandemic period’ (a 12-month period which starts on any date from 1‌‌ ‌April to 6 April 2020).

They will use these figures to work out how much grant you will receive.

This guidance may help you:

GOV‌‌.UK guidance – search for ‘work out your turnover’
YouTube video – search for ‘HMRC get ready to claim the fifth grant’.

I can help clients prepare their figures, but cannot submit SEISS claims on their behalf.

Delays to processing 2020-21 Self Assessment tax returns

HMRC previously stated there was a delay to processing some 2020-21 tax returns where SEISS grants have not been reported in the way expected. HMRC have now corrected all of the affected returns submitted before 19‌‌ ‌June, and continue to correct the SEISS grant amounts included in 2020-21 Self Assessment returns submitted after that date.

There are a small number of return amendments, received before 19‌‌ ‌June, which still need processing. They are expected to be completed by the first week of Oct‌‌ober.

HMRC will contact customers if they correct their return, and depending on the changes made, you may need to take further action. It’s important to check any adjustment or statement of account to make sure the changes are accurate, otherwise you might be taxed twice for your SEISS grant.

If you receive a statement of account and need to make further amendments to your return, you can find guidance on how to do this at gov.uk/check-your-return-for-seiss. As an authorised agent, I can call HMRC on your behalf to make any necessary changes