Eligibility for Third Seiss

lisastevo · 26 November 2020 at 3:44PM

Hi all.
Looking for some advice please on whether I can claim the third SEISS.

Im a sole trader in the entertainment industry.

My trading profits for 2019/2020 were £19k ish

and my projected trading profits for 2020/2021 are only £9k.

I’ve claimed SEISS grants 1&2 totalling £6.4K. We know grant 3 is at 80% and let’s say grant 4 is also 80% this means that around £22k will be on my self assessment for 2020/2021 although only £9k will be from trading and the rest in grants.

Does this make me not qualify?

Any thoughts

TIA

Yahoo_Mail · 26 November 2020 at 3:58PM

Not sure why you'd think you wouldn't qualify.

lisastevo · 26 November 2020 at 4:03PM

Yahoo_Mail said:

Not sure why you'd think you wouldn't qualify.

Because if they are adding the grant amounts to the total profit then I’ll be around £3k up on the previous year.

The majority of my work from November through to January which is the qualifying period of grant 3 has already been cancelled as venues are not allowed to open but the wording is so unclear as it refers to significant reduction in trading profits from previous tax years

Yahoo_Mail · 26 November 2020 at 4:05PM

lisastevo said:

Yahoo_Mail said:

Not sure why you'd think you wouldn't qualify.

Because if they are adding the grant amounts to the total profit then I’ll be around £3k up on the previous year

Well, so what? Plenty of people are going to be up on their figures as there is no partial grant. The Government has even admitted as much. There is nothing in the eligibility that says you're ineligible for further grants once you hit last years income.