5th SEISS grant update
We have just been informed that some clients are receiving an email from the HMRC regarding the 5th SEISS grant.
The email tells you that:
- If you are eligible, they will contact you directly from mid-July, like they did with the previous grant, to give you a personal claim date.
- Once you have received this personal claim date, the claim can be made any time from your personal claim date to the end of September.
- They are informing people that for your claim you need a pre-COVID turnover figures (either from tax returns 18/19 or 19/20). You will find this figure on your computation report, however, if you cannot find your report then please contact us.
- Now this is the important bit… they are also asking for a current 20/21 turnover figure, and you will only be able to get this figure if you have sent us your information for us to prepare your tax return.
- To make sure that you are eligible, they will be looking to see how much your turnover has been reduced in the 20/21 tax year.
Please note, the 20/21 tax return does not need to be submitted to HMRC until the 31/01/2022 but needs to be prepared so you have the correct turnover figure, otherwise, if the figure is incorrect, you may be investigated.
However, we need to make you aware that we have had a lot of clients who have claimed the previous grants incorrectly which has led to mass HMRC investigations and HMRC are requesting that the grant money be paid back, if you are not in fact eligible!!
Please only claim this grant if you genuinely need it, due to loss of earnings.
