The Self-Employment Income Support Scheme (SEISS) has so far offered three taxable grants to eligible claimants. The next grant is due to open for applications from the end of April. Eligible claimants will be contacted by HMRC in mid-April with a personal claim date to apply from.
The full eligibility criteria for the fourth grant has not yet been released by HMRC.
However, Rishi Sunak confirmed in the Budget last month more people will be eligible for the fourth SEISS grant than previously was the case.
The Chancellor said thousands of newly-self employed people will now be able to access the Government support.
The news has been welcomed by many people who have struggled to keep their businesses afloat during lockdown.
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Self-employment experts told Express.co.uk self-employed people should now “be aware” the eligibility criteria for SEISS has now changed.
Tommy McNally, tax expert from Tommys Tax, told Express.co.uk: “The most important thing is to notice that the criteria has changed. People who were previously excluded are now included.
“People who have filed their 19/20 tax form and are newly self-employed are now eligible, so that will be a whole new bunch of people who will meet the criteria which is really good.
“So my biggest piece of advice is to be aware of the changes and check if you’re included this time.”
For the 2019/2020 tax year, the claimant’s tax return must have been submitted by March 2, 2021.
The fourth grant is not open to people who have trading profits above £50,000.
For someone to get the fourth grant, their trading profits must also be at least equal to their non-trading income.
The Government website explains claimants must “be currently trading but are impacted by reduced demand due to coronavirus” or “have been trading but are temporarily unable to do so due to coronavirus”.
Claimants must also declare they “intend to continue to trade”, as well as confirm they “reasonably believe” there will be a “significant reduction” in trading profits due to either “reduced business activity, capacity, demand or inability to trade due to coronavirus”.
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