4th SEISS Grant for Dentists Update
As the restrictions are beginning to ease across the UK, we hope that you are all managing to slowly enjoy a bit more of a normal life. Dentistry appears to be picking up from what we are hearing from our lovely clients, so fingers crossed this continues.
There seems to have been quite a lot of confusion surrounding the 4th SEISS grant. This is the first grant that some of you will have been eligible for having filed your first tax return in the 2019/20 tax year.
Please see below a summary of the 4th SEISS grant;
- The latest grant covers 1st February 2021 to 30th April 2021 and can be claimed for up to a maximum of £7,500
- HMRC will contact you mid-April if you are eligible to claim the grant. This will either be via email, letter or within your online digital tax account. It will inform you of a date from which you can make the claim from
- You will need to confirm you meet other eligibility criteria when you make your claim
- To be eligible for the fourth grant you must be a self-employed individual or a member of a partnership. You cannot claim the grant if you trade through a limited company or a trust
- You must have traded in both tax years 2019/2020 and 2020/2021. You must also have submitted your 2019/2020 tax return before 2nd March 2021
- You must either be currently trading but are impacted by reduced demand due to coronavirus or have been trading but are temporarily unable to do so due to coronavirus
- You must also declare that you intend to continue to trade and reasonably believe there will be a significant reduction in your trading profits
If you want to read the full guidance as to what ‘reasonable belief’ or ‘significant reduction’ might mean, you can read that here https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
HMRC has announced this week that they will be doing live webinars on the 4th SEISS grant to help self-employed individuals make their claims. It will include how much you could be entitled to, what happens after you claim and you will have the chance to ask questions at the end.
These two live webinar sessions are:
- Friday 23rd April 1.45pm – 2.45pm
- Tuesday 27th April 11.45am – 12.45pm
These webinars are free and you can register with your email address via the link below. HMRC say you must register and sign in 5 minutes before the start and you can ask questions using the on-screen box. https://www.gov.uk/guidance/help-and-support-if-your-business-is-affected-by-coronavirus-covid-19
If you have any questions on the grants and your potential eligibility, please contact your usual member of the PFM team!
