4th & 5th Grants for self-employed

 

 

4th Grant

 

HMRC will send emails inviting eligible individuals to apply for the fourth grant, which will be available in the portal from late April 2021. Those adversely affected by Covid-19 must keep evidence to that effect. For example, cancelled contracts or a reduction in sales invoicing. The portal will close at the end of May 2021. The grants is 80% based on a 3-month average trading profit, worked out from the relevant period. HMRC will stipulate the amount payable, and from experience this has been 100% correct for all my clients to date.

 

5th Grant

 

The fifth and final grant will cover the period May - September 2021. The criteria will be slightly different from the previous grants. The grant is based on lost turnover from 6 April 2020 - 5 April 2021 due entirely to Covid-19. If the reduction in turnover is less than 30%, the grant will in turn be 30% on a 3-month average trading profit, as opposed to the previous 80% across the board. If the reduction is 30% and above, the 80% as in previous grants will apply. The portal will be available in late July 2021.