5th SEISS grant available in July

The fifth Self Employed Income Support Grant will be open to claims from late July 2021, with the grant covering the period May 2021 to September 2021.

As with the previous grants, the amount you receive is taxable and will be paid out in a single instalment.

The amount you will receive under the terms of the 5th grant will depend on the effect that the pandemic and the government’s restrictions have had on your business’ turnover. The grants will be available in two qualifying levels as follows:

If your turnover is down by 30% or more

Your grant will be:

• worked out at 80% of 3 months’ average trading profits
• capped at £7,500

If your turnover is down by less than 30%

Your grant will be:

• worked out at 30% of 3 months’ average trading profits
• capped at £2,850

You will need to provide evidence of how you have calculated the reduction in turnover.

Please see the gov.uk website for further information and examples https://www.gov.uk/guidance/work-out-your-turnover-so-you-can-claim-the-fifth-seiss-grant