SEISS update – 5th tranche announced.

The Treasury have just published details of the 5th and SEISS grant. Details here [pdf].

The more concise public information page on this is here.

The eligibility for this is the same as the eligibility for the fourth grant (as a self-employed person or a member of a partnership) who has traded in tax years 2020-21 and in 2019-20 (and submitted a tax return on/before 2nd March 2021).

You have to still be trading, and have been impacted by reduced demand due to Coronavirus. Alternatively, you are temporarily unable to trade due to the pandemic.

How much you can claim is determined by how much your turnover has been reduced in the financial year 2020-21. Guidance on how to claim can be found here on the government website.

How much you can claim

  • if your turnover reduced by 30% or  more, you will receive 80% of three months average trading profits to a maximum value of £7,500
  • if your turnover reduced by less than 30%, you receive 30% of three months average trading profits to a maximum value of £2,850
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