Self-Employed – claiming the fifth grant

HMRC has published a policy paper covering the fifth SEISS grant; more detailed guidance will soon be available but the amount ( to cover the period May 2021 to September 2021) will be determined by how much turnover has been reduced in the 2020/21 year:
Turnover Reduction Rate Applicable Maximum Grant
 30% or more reduction 80% of 3 months’ average trading profits £7,500
Less than 30% reduction 30% of 3 months’ average trading profits £2,850
The HMRC online claim service will be available from late July 2021.

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