express– SEISS has already made three payments to claimants, paying out up to 80 percent of trading profits lost for those who were eligible. A fourth SEISS grant is being made available, whereby workers who meet the criteria can, again, claim up to 80 percent of trading profits. Chancellor Rishi Sunak also confirmed there will be a fifth payment covering the period July through to September. However, the fifth grant will see support slightly subside for the final instalment, with the full 80 percent only given to people whose turnover has provenly fallen by 30 percent or more.
To apply for SEISS online, you will need your:
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
Make sure you only provide bank account details where a BACS payment can be accepted.
You may also have to answer questions about your passport, driving licence or any other information found on your credit file, and you have to make the claim yourself.
When is the 4th SEISS payment due?
In a statement on the Gov website, HMRC confirms the SEISS fourth payment portals will open soon.
HMRC says: “The only service to claim the fourth grant will be available from late April 2021.
“If you are eligible based on your tax returns, HMRC will contact you in mid-April to give you a date that you can make your claim from.
“It will be given to you either by email, letter or within the online service.”
In an update, HMRC added that self-employed claimants will need to confirm they meet all the eligibility criteria when making their claim – which has to be made on or before June 1, 2021.
Unlike previous grants where claimants applied themselves, it’s understood this time around HMRC will work out who is entitled to the money and contact them independently.
HMRC will contact people based on their tax returns either by email, letter or within its Government Gateway, in an effort to give them a start date for their claim.
Following a successful claim, the payment will have the money paid directly into their bank account within six working days.
This means, for example, if you get the OK to start your claim from HMRC on April 16, and say HMRC takes 14 days to approve and responds to you on April 30, the money will likely be in your account by the end of the first week of May.
Of course, if you haven’t received your payment and you think you should have, contact HMRC.
However, HMRC advises claimants not to contact them unless it’s been 10 working days since the claim with no payment.
If you find you’d like to contact HMRC anyway, you can find all the ways of speaking to them here.
What else do I need to know?
If a business recovers financially after a claim, the eligibility won’t be affected.
This is because the SEISS scheme is based on a reasonable belief that trading profits would have been significantly reduced at the time of claiming.
When claiming, applicants are advised to keep a copy of all appropriate records such as the amount claimed and grant claim references.
If you’re having a hard time on the phone or with HMRC, try and note down every person you’ve spoken to or get a reference number for your case to simplify proceedings in the future.