Seiss Grant 4 no work December to 13th April but now back at work

tracys76

I wasn't entitled to any previous grants but I am now entitled to the 4th grant but I'm confused as to whether or not I can claim.  I have zero work from 22nd December to 13th April but I am now working again full time.  Am I eligible ? Below is the paragraph that is confusing me.  Does the reduction in profits have to be Jan to April 21, April 21 onwards or both.  I realise I have left it a little late to decide but hoping I can get an answer on here in time.

Thanks in advance

Significant reduction

Before you make a claim, you must decide if the impact on your business between 1 February 2021 and 30 April 2021 will cause a significant reduction in your trading profits for the tax year you report them in.

HMRC cannot make this decision for you because your individual and wider business circumstances will need to be considered when deciding whether the reduction is significant.

You should wait until you have a reasonable belief that your trading profits are going to be significantly reduced, before you make your claim. 

MattMattMattUK

tracys76 said:

I wasn't entitled to any previous grants but I am now entitled to the 4th grant but I'm confused as to whether or not I can claim.  I have zero work from 22nd December to 13th April but I am now working again full time.  Am I eligible ? Below is the paragraph that is confusing me.  Does the reduction in profits have to be Jan to April 21, April 21 onwards or both.  I realise I have left it a little late to decide but hoping I can get an answer on here in time.

Thanks in advance

Significant reduction

Before you make a claim, you must decide if the impact on your business between 1 February 2021 and 30 April 2021 will cause a significant reduction in your trading profits for the tax year you report them in.

HMRC cannot make this decision for you because your individual and wider business circumstances will need to be considered when deciding whether the reduction is significant.

You should wait until you have a reasonable belief that your trading profits are going to be significantly reduced, before you make your claim. 

You have posted the criteria, what is your evaluation based on those criteria?

People on here may be able to offer you advice, but they are unable to give you a definitive answer any more than HMRC can,  nor can they make the decision for you.

Jeremy535897

If you, like many others, make your annual accounts up to 31 March or 5 April, to meet this criterion you have to show that the impact on your business in the period 1 February 2021 to 30 April 2021 will cause a significant reduction in your trading profits for either:

• the year to 31 March (or 5 April) 2021 (2020/21); or
• the year to 31 March (or 5 April) 2022 (2021/22).
  

If you only did any work in the period from 13 April 2021 to 30 April 2021, that only about 1/6 of the 3 months concerned, and all of it is outside 2020/21, so it may well be that there is a significant reduction in your trading profits for 2020/21 as a result.

tracys76

Thank you. What i meant was do I have to have reduced profits in the current tax year or just 2020 to 2021. I lost almost half my income (9 months worth as i work in the aviation industry) during 2020 to 2021 but I am now working full time again in the current year so unless there is another lockdown my profits this year will be unaffected.

Jeremy535897

I don't know how to make it clearer. Just 2020/21 will do, assuming your year end is 31 March (or 5 April).

JJC1956

tracys76 said:

I wasn't entitled to any previous grants but I am now entitled to the 4th grant but I'm confused as to whether or not I can claim.  I have zero work from 22nd December to 13th April but I am now working again full time.  Am I eligible ? Below is the paragraph that is confusing me.  Does the reduction in profits have to be Jan to April 21, April 21 onwards or both.  I realise I have left it a little late to decide but hoping I can get an answer on here in time.

Thanks in advance

Significant reduction

Before you make a claim, you must decide if the impact on your business between 1 February 2021 and 30 April 2021 will cause a significant reduction in your trading profits for the tax year you report them in.

HMRC cannot make this decision for you because your individual and wider business circumstances will need to be considered when deciding whether the reduction is significant.

You should wait until you have a reasonable belief that your trading profits are going to be significantly reduced, before you make your claim. 

Do You realise the cut off date for applying is Today 1st June?

tracys76

JJC1956 said:

tracys76 said:

I wasn't entitled to any previous grants but I am now entitled to the 4th grant but I'm confused as to whether or not I can claim.  I have zero work from 22nd December to 13th April but I am now working again full time.  Am I eligible ? Below is the paragraph that is confusing me.  Does the reduction in profits have to be Jan to April 21, April 21 onwards or both.  I realise I have left it a little late to decide but hoping I can get an answer on here in time.

Thanks in advance

Significant reduction

Before you make a claim, you must decide if the impact on your business between 1 February 2021 and 30 April 2021 will cause a significant reduction in your trading profits for the tax year you report them in.

HMRC cannot make this decision for you because your individual and wider business circumstances will need to be considered when deciding whether the reduction is significant.

You should wait until you have a reasonable belief that your trading profits are going to be significantly reduced, before you make your claim. 

Do You realise the cut off date for applying is Today 1st June?

Yes I do. I stated that in my post. I have been hesitant to claim due to the impact on my tax credits.