Fifth SEISS Grant: When can a reduction be an increase?!
The emails which HMRC is sending out to taxpayers who could be eligible for the fifth Self-Employment Income Support Scheme (SEISS) grant state: “If your turnover increased, you may still qualify for the 30% grant. You’ll still need to reasonably believe that, due to...
Fifth Self-Employment Income Support Scheme grant
HMRC has finally published their guidance on the fifth SEISS grant. If you are initially eligible you may have recently received an email from HMRC about what you can do now to get ready. You will then be contacted again in mid-July by HMRC to give you a personal...
Child Benefit, Tax-Free Childcare and 30 Hours Childcare
Child Benefit Here is the government guide on claiming child benefit: Claim Child Benefit - GOV.UK (www.gov.uk). The High Income Child Benefit Charge (HICBC) (High Income Child Benefit Tax Charge - GOV.UK (www.gov.uk)) may have put off some from claiming Child Benefit...
Fifth SEISS Grant – what we know so far
There will be a fifth SEISS grant which will cover the period May 2021 to September 2021. The guidance for claiming the grant should be available at the beginning of July but so far we know that it will be open for claims from late July. It will be paid out as a...
Budget Round Up including Fourth SEISS Details
Yesterday the Chancellor gave us his budget. Key for many is the detail of the fourth SEISS grant. A bit of a double-edged sword: the good news is the addition of the newly self-employed who started trading during 2019/20. The inclusion of 2019/20 as a fourth year in...
Final Days To Claim 3rd SEISS Grant and Time To Pay Tax
REVISION 26TH JANUARY 2021 TO THIS BLOG POSTED 25TH JANUARY 2021 AS HMRC ANNOUNCES: "Self Assessment customers who cannot file their tax return by the 31 January 2021 deadline will not receive a late filing penalty if they file online by 28 February." Link to the...
New guidance published by HMRC on the tax status for those working in live performance, film, television and radio
Anyone who has listened to Philippe give one of his popular “How to survive the UK tax system” talks may well remember him explaining how to ensure you are classified as self-employed rather than employed. The main advantage of the former being that business expenses...
Self-Employment Income Support Scheme Grant Extension – 5th November 2020 Revisions!
Remember, remember the 5th of November! More revisions to the revisions...here we go! As at 5th November 2020 this is what the third Self-Employment Income Support Scheme (SEISS) grant is going to look like: The third SEISS grant = first SEISS grant extension The...
Self-Employment Income Support Scheme Grant Extension – 2nd November 2020 Revisions
Hold onto your masks! More updates/revisions/U-turns! As quickly as I’m blogging the guidance is changing. As at the end of 2 November 2020 this is what the third Self-Employment Income Support Scheme (SEISS) grant is going to look like: The third SEISS grant =...
CHANCELLOR INCREASES FINANCIAL SUPPORT
Yesterday, the government announced that the third SEISS grant will be doubled from 20% to 40%, meaning the maximum grant will increase from £1,875 to £3,750. This grant will have the same eligibility criteria as the earlier SEISS grants, for those who are continuing...