SEISS grants overpayments chased by HMRC HMRC is now contacting taxpayers who received more SEISS grants than they were entitled to. Taxpayers may repay a partial amount, or repay their grants in full, with the option to appeal within 30 days. HMRC is examining the SEISS claims and comparing them to amended returns. Indeed including
HMRC self-assessment reminder HMRC is reminding self-assessment taxpayers to declare Covid-19 grants on their 2020/21 tax return. This includes Self-Employment Income Support Scheme (SEISS) grants, which are deemed taxable income. It has been reported that more than 2.7 million people claimed at least one of the SEISS grants, up to 5 April 2021. During the
Applications for the fifth SEISS grant are open for online submissions. All those who are eligible for the fifth SEISS grant and wish to make a claim, must do so before the scheme closes on 30 September 2021. Eligibility criteria Eligibility will be the same as for the fourth grant and will be based on
Applications for the fifth SEISS grant are now open for online submissions. HMRC has confirmed that submissions can now be made online until the scheme closes on 30 September 2021. Eligibility critieria Eligibility will be the same as for the fourth grant and will be based on the individual’s tax returns. There are no requirements
The fifth Self-Employment Income Support Scheme (SEISS) grant is due to open for claims from mid-late July. Despite the fifth grant encompassing a five-month period from 1st May to 30th September, individuals will only receive three months’ worth of average trading profits for this five-month period. Eligibility critieria Eligibility will be the same as for
HMRC have recently announced that they have come across several issues whilst processing a number of 2020/21 self-assessment tax returns, due to apparent inconsistencies in claims from previous SEISS grants. The Institute of Chartered Accountants have produced a report into the matter stating that, HMRC have been unable to automatically process numerous 2020/21 self-assessment tax
The fourth Self-Employment Income Support Scheme (SEISS) grant is due to open for claims from late April. HMRC has confirmed it will be contacting those self-employed workers who are eligible for the fourth grant, by either email, letter or within the online service. Eligibility will be based on the individuals tax returns. There are no
Chancellor Rishi Sunak confirmed, in last week’s Budget announcement, further details for the fourth Self-Employment Income Support Scheme (SEISS) grant. The grant will allow those who are self-employed, whose business and income has been effected by the coronavirus pandemic, to claim support from the government. The fourth SEISS grant will be available to claim through
HMRC will be writing to 100,000 taxpayers who became newly self-employed in 2019/20. HMRC aims to protect the Self-Employment Income Support Scheme from fraud and will therefore ask these taxpayers to complete a pre-verification check. Taxpayers will be asked to confirm their identity as well as providing evidence of trade. Selected taxpayers will receive a
HMRC has issued 11,000 people with letters questioning their claims for self-employment support grants. Last year, the UK’s tax authority sent 24,000 similar letters to claimants who said they had stopped trading. Letters have been sent to those who said they had stopped trading either on their 2019/20 self-assessment tax return or by amending their
