SEISS 4 Applications have started from the 22nd April
The SEISS 4 (for the period beginning of February to end of April 2021) is the first grant that will include the 2019/2020 tax returns.
Eligibility criteria for the grant are largely unchanged, however those who started their business after or around October 2018, who were previously excluded may now be able to make a claim. You must declare that you have had a significant reduction in profits.
The self-employment trading profits must be £50,000 or less and at least equal to other income. If not it will average the tax years 16/17, 17/18. 18/19 and 19/20.
The application date had not been announced in advance by HMRC as they wished to avoid the system being clogged. Instead the have being design personalised earliest application dates by text, email and letter. The date range is 22 April to 29 April. Once you have made your application the money is usually paid in approximately 6 days.
If you are claiming for the fist time you will be required to verify your ID and HMRC will have written to you regarding this.
SEISS 5 will cover the period May to September and is worth up to £7500 but it is turnover dependent. Those whose turnover fell by 30% in the year to April 2021 will get 80% of profits. Those whose turnover fell by less than 30% will get just 30% of profits. The application dates have not yet been announced.
Find more info on the SEISS grants here.