The scheme is due to open shortly and HMRC will be contacting self employed individuals directly advising them of their eligibility to apply for the scheme, which will be open from late July. There are some rule changes for the fifth grant which are important to take into account and also note that accountants are not allowed to apply directly on behalf of their clients.

HMRC has confirmed that ‘the fifth grant is different. In most cases, you’ll need to provide two turnover figures when you make your claim. We’ll use these to work out how much you’ll get’.

Claims must include information about turnover if you submitted a tax return for your business in 2019 to 2020 as well as any of the following tax years: 2018-19, 2017-18 and 2016-17. Turnover includes the takings, fees, sales or money earned or received by your business.