HMRC will shortly be contacting self-employed sole traders and partners notifying them of the date from which they can make a claim for the latest round of financial support.
To apply for the fifth SEISS grant, taxpayers will need to provide more financial information in support of their claim than was required with grant claims 1 to 4. HMRC will want to see evidence that the claimant’s sales (not profits) have reduced as a result of the pandemic, so they will be asking for turnover data from more than one year in order to make the comparison. The level of grant received will depend on the reduction in turnover with larger sums payable to claimants whose turnover has reduced by 30% or more. Even if HMRC contact you and invite you to make a claim, that does not necessarily mean that you are eligible and so we recommend that you check the guidance carefully in terms of both the eligibility criteria and the financial data required in support of your claim.