SEISS 4 - Are You Eligible?
Updated: May 7
The 4th SEISS Grant is now open and many people are wondering whether or not they should claim it.
Please click above to watch a short video, or keep reading for the transcript:
With each new grant comes extra complications, there’s no doubt that HMRC are trying to reduce the amounts paid out for various reasons.
But lets try to keep this simple by mentioning 2 important factors to consider.
Firstly, the grant covers February to April 2021.
The first condition is that you must reasonably believe that you’ll suffer a significant reduction in trading profits, due to reduced business activity, capacity, demand or inability to trade due to coronavirus between 1 February 2021 and 30 April 2021.
The second condition is that you must decide if the impact on your business between 1 February 2021 and 30 April 2021 will cause a significant reduction in your trading profits for the tax year you report them in.
Now, some of those things have very vague definitions, if they have been defined at all but lets summarise by saying this.
· Have you suffered lower sales during the 3 months, compared with what you would have reasonably expected?
· Due to those lower sales do you expect that you will suffer a significant reduction in profits for the whole year?
If so make the claim.
If you are not sure then get in touch with us and we will look at your figures in more depth.
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