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.