The LB Roundup – The Fourth SEISS Grant

Thank you to those who attended our roundup webinar! The recording is at the bottom of this blog 👇

The focus of today’s webinar was on the fourth SEISS grant, which is now open to claimants!

The fourth SEISS grant covers the period from 1 February 2021 to 30 April 2021, and to claim you must have:

• Submitted your 2019/2020 tax return on or before 2 March 2021
• Traded in both tax years 2019/20 and 2020/21

You must also be trading but impacted by reduced demand OR was trading but temporarily unable to do so.

You must declare that you intend to continue to trade and you reasonably believe there will be a significant reduction in trading profits.

Significant reduction in profits

• Before you make a claim, you must decide if the impact on your business between 1 February 2021 and 30 April 2021 will cause a significant reduction in your trading profits for the tax year you report them in
• You should wait until you have a reasonable belief that your trading profits are going to be significantly reduced, before you make your claim
• You do not have to consider any other coronavirus scheme support payments that you have received when deciding if you’ve had a significant reduction in your trading profits

 See here for examples on the GOV.UK website.

The fifth and final grant coveting the period from May 2021 to September 2021 will be available in due course…

If you have any questions or would like to discuss any topics further, then please get in touch. You can call us on 01243 782 423, or email [email protected].

To see our other Roundup webinars head to our Videos and Podcasts page, or you can subscribe to our YouTube Channel.

The next LB Roundup is on 30th April at 9.30am – To register head to: https://LBLink.uk/WKLYRNDUP_REG