4th Grant

sam8787

Has anyone made their claim for the 4th Grant yet? I am just wondering if now 19/20 tax return is being used whether that is just for the newly self employed or whether the calculations are solely made on that years income now? I had a bad year 16/17 and with that being one of the three used to calculate for the first three, if that gets wiped off, if they use all four years to get average or if it’s just 19/20. Thanks

Jeremy535897

To calculate your fourth grant, the average of profits for the four years 2016/17 to 2019/20 will be used. It should open next week. See:
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

whats_retirement

I claimed mine this morning.

I am newly self employed and this is my first claim.

On starting the claim, the amount granted was already worked out for me, so I just had to tick a few boxes and all done in under 2 minutes.

The 5th grant might be fun if they take 80% of profit from 2020/21. What's 80% of not very much.

sam8787

Jeremy535897 said:

To calculate your fourth grant, the average of profits for the four years 2016/17 to 2019/20 will be used. It should open next week. See:
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

That’s what I thought, at least I had a good year 19/20 so should up the 4th grant. Thank you for the replies

Jeremy535897

whats_retirement said:

I claimed mine this morning.

I am newly self employed and this is my first claim.

On starting the claim, the amount granted was already worked out for me, so I just had to tick a few boxes and all done in under 2 minutes.

The 5th grant might be fun if they take 80% of profit from 2020/21. What's 80% of not very much.

They won't, as the filing date for 2020/21 is 31 January 2022.

JJC1956

SEISS Grants are available from 22/04/21 BUT everyone will be given a date when they can apply, I claimed today, my partner can claim from 23/04/21.
If you had a bad year in 16/17 but the other 3 years are good then the average for the 4 years will increase, so you should get a larger payment than the first 3 grants. 
The qualifying criteria for the 5th grant can be found on the HMRC website. 

hunnie

We claimed this morning also as given today as our date. It was all straight forward.