The Third SEISS Grant and Working Parents - Act Now!

  • Pat Nown
  • 26 January 2021 13:35

 HMRC have stated

‘If your clients are unable to work because they have additional caring responsibilities due to school closures, and they meet all other conditions, they are eligible to claim, provided they reasonably believe that the impact of taking this time off will significantly reduce their trading profits for the year that they report them in.’ 

As the deadline for claiming the third SEISS grant is fast approaching, it is critical to ensure that eligible clients make their claim on or before 29‌‌‌ ‌January 2021.

Confirming a significant reduction in trading profits

Before clients make a claim for the third grant, they must decide if the impact on their business will cause a significant reduction in their trading due to reduced activity, capacity, demand or inability to trade due to coronavirus during 1‌‌‌ ‌November 2020 to 29‌‌‌ ‌January 2021. 

Claimants can continue to work, start a new trade or take on other work including voluntary work and duties as a military reservist as long as they retain evidence of the impact on the business which is the subject of the grant claim.  It does not matter that they are in receipt of any other coronavirus scheme support payments. 

As with the other SEISS grants, the third grant is subject to income tax and NIC and will be reportable on the 2020/21 self-assessment tax return.

The fourth SEISS grant

Information about the fourth SEISS grant will be provided on 3‌‌‌ ‌March. 

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