Budget 2021 - 4th & 5th SEISS Grants
The fourth SEISS grant covers February to April 2021. It has been set at 80% of three months’ average trading profits, capped at £7,500. Average trading profits is over the four years 2016/17 - 2019/20, where available and it will be available from late April.
The fifth grant covers May to September 2021. It has been set at 80% of three months’ average trading profits capped at £7,500 for those whose turnover has reduced by 30% or more.<br) Those with a turnover reduction of less than 30% will receive a grant based on 30% of three months’ average trading profits, capped at £2,850. Average trading profits will be calculated as for SEISS 4 and the grant will be available in late July
A reminder as always, these grants are subject to Tax and Class 4 National Insurance.