Brits have just one month left to apply for final coronavirus grant worth £7.5k

There is just one month left for self-employed workers to apply for the final coronavirus grant.

The self-employed income support scheme (SEISS) has provided a financial boost to millions during the pandemic.

It offers grants worth up to £7,500 for those who are self-employed and have a business that was disrupted by the virus.

But it’s worth noting that if you haven’t yet applied for the grant, there isn’t much long to do so.

The last date to apply for the fifth and final SEISS grant is September which is just under four weeks away.

If you were eligible for the fourth grant then you will be entitled for the September instalment.

The scheme is to help workers during the pandemic

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Here is what you need to be eligible for the help:

  • Filed a 2019/20 tax return by 11.59pm on March 2, 2021
  • Traded in both the 2019/20 and 2020/21 tax years – and continue to trade beyond this
  • Seen your business profits impacted by the coronavirus crisis – and have evidence of this
  • Earned at least 50% of your total income from self-employment
  • Recorded average trading profits of £50,000 a year or less

You can keep working while you claim a SEISS grant but you must prove your profits have been impacted by the pandemic.

The fifth grant will cover the period of May 1 to September 30, but it’s only worth three months of trading profits.

So much you get is based on your trading profits over three months and the amount your business was affected.

Newly self-employed workers will get the maximum grant as there are no previous HMRC figures to base your turnover against.

You can apply for the fifth SEISS grant on the HMRC website where you will need to following:

  • A Self Assessment Unique Taxpayer Reference (UTR)
  • Your National Insurance number
  • Your Government Gateway user ID and password
  • UK bank details

If you think you’re eligible for SEISS, but haven’t heard from HMRC, you can call on 0800 024 1222.

You need to apply for it yourself, as accountants or tax agents won’t be able to act on your behalf.

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