How will trading conditions affect eligibility for the Self-Employment Income Support Scheme.
HMRC has updated its guidance to define what it means by reduced activity, capacity or demand or temporary closure and gives examples of how this could affect eligibility.
Claims for the third SEISS grant have now closed. The last date for making a claim for the third grant was 29 January 2021. This guidance applies to claims made during the third grant period. Details about the fourth grant will be announced on 3 March 2021.
To be able to claim for the third grant, you must either:
- be currently trading but are impacted by reduced demand due to coronavirus.
- have been trading but are temporarily unable to do so due to coronavirus.
- You must also:
- intend to continue to trade.
- reasonably believe there will be a significant reduction in your trading profits due to reduced demand or your inability to trade.
You must also meet all other eligibility criteria to make a claim.
HMRC expects claimants to make an honest assessment about whether they reasonably believe their business will have a significant reduction in profits.
Please do talk to us about making a claim or any concerns you may have.