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Grappling with SEISS 5 and the new turnover test

With the fifth in the series just days away, the Self-Employed Income Support Scheme (SEISS) seems intent on overtaking the Fast and Furious film franchise (which currently stands at nine). This time around, the twists and turns come in the form of a new turnover test which determines how much the applicant is entitled to claim. Stephen Relf, Croner-i explains

The SEISS is the main source of government funding for self-employed individuals who have been affected by the Covid-19 pandemic. Four grants have been made so far and the portal for claiming grant five is expected to open by the end of this month. The deadline for claiming grant five is 30 September 2021. It is taxable income for 2021-22 for the claimant.

The rules for grant five are largely the same as those for grant four with the key exception of a new turnover test, discussed below.

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