Can You Claim The Fifth SEISS Grant

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enlightenment

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July 14, 2021

Find out the turnover figures you’ll need before you claim, where to find them and how they affect your grant amount.

Before you claim

You must:

Work out your turnover for 12 months from 1 April 2020 to 6 April 2020.
Find your turnover from either 2019 to 2020 or 2018 to 2019 to use as a reference year.

You will need to have both figures ready when you make your claim.

How your turnover affects your grant amount

When you make your claim, the online service will ask you for your turnover figures and compare them for you. The claims service will then tell you if you can claim the higher or lower grant amount.

If your turnover is down by 30% or more

Your grant will be:

worked out at 80% of 3 months’ average trading profits
capped at £7,500

If your turnover is down by less than 30%

Your grant will be:

worked out at 30% of 3 months’ average trading profits
capped at £2,850

When you’ll get the higher grant

If you have a total turnover of:

£20,000 for 2019 to 2020
£10,000 for April 2020 to April 2021

Your turnover for April 2020 to April 2021 is down by 50% compared to 2019 to 2020.

You’ll get the higher grant amount worth 80% of 3 months’ average trading profits because your turnover is down by 30% or more.

When you’ll get the lower grant

If you have a total turnover of:

£20,000 for 2019 to 2020
£16,000 for April 2020 to April 2021

Your turnover for April 200 to April 2021 is down by 20% compared to 2019 to 2020. You’ll get the lower grant amount worth 30% of 3 months’ average trading profits because your turnover is down by less than 30%.

If 2019 to 2020 was not a normal year for your business

You had a lower than normal turnover from 2019 to 2020 due to a long period of sickness. You had a normal year of trading from 2018 to 2019 so you can use 2018 to 2019 as your reference year.

If your accounting period is longer than 12 months

If you have a 15-month accounting period and declared a turnover of £45,000 on your 2019 to 2020 tax return. To get your 12-month turnover for 2019 to 2020 you could: