HMRC

davinarispoli

My tax year runs August 2019 - August 2020 (very old system). I have put accounts in for auditing but Accountant says I must add my SEISS Grant for December 2020 to this year.  As I didnt know I was going to receive it or how much as my accounts closed 4 months before this payment, surely it should fall into my following years accounts

Jeremy535897

At present the legislation provides that all SEISS payments are taxed in 2020/21. For future SEISS payments, the legislation will be amended to say they are taxable when received. That means that SEISS 1, 2 and 3 are taxable in 2020/21, the same year as your profits for the year to August 2020.