Applications have finally opened for the fifth instalment of the Self-Employment Income Support Scheme (SEISS). Eligible claimants will now be able to submit their claims to get a grant from the Government worth up to £7,500, depending on circumstances. Read on to find out how to claim the fifth grant.
What do you need to claim the fifth self-employed grant?
The Government website opened the online service to apply for SEISS grant five on July 28.
People who are eligible for the fifth grant based on their tax returns should have been contacted in mid-July with a personal claim date to apply from.
The guidance outlines that people should make their claim on or after their allocated personal claim date.
READ MORE: Mortgage free: How you could knock over £12,000 off your payments
How does turnover affect the fifth grant?
Turnover is integral to the fifth grant, as it will impact how much someone receives from the scheme.
Someone whose turnover has decreased by 30 percent or more will be eligible for a grant worth 80 percent of three months’ average trading profits, capped at £7,500.
But a claimant whose turnover has decreased by less than 30 percent will only be eligible for a grant worth 30 percent of three month’s average trading profits, capped at £2,850.
How can you claim the fifth grant?
The online service to apply for SEISS grant five is now live on the Government website HERE.
Before applying for the grant, claimants should check they meet the eligibility criteria.
To claim the fifth grant, the following details may also be required:
- Self Assessment Unique Taxpayer Reference (UTR)
- National Insurance number
- Government Gateway user ID and password
- UK bank details including account number, sort code, name on the account and address linked to the account
Claimants are asked to only provide bank account details where a Bacs payment can be accepted.
When making a claim, the applicant may also need to answer questions about their passport, driving licence or information held on their credit file.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
