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SEISS by Mind Map: SEISS

1. Process

1.1. Person applies online

1.1.1. Not agent

1.1.2. Can request review

1.1.3. Grant 1

1.1.3.1. On or before 13 July 2020

1.1.4. Grant 2

1.1.4.1. On or before 19 October 2020

1.1.5. Grant 3

1.1.5.1. On or before 29 January 2021

1.1.6. Grant 4

1.1.6.1. Expected late April

1.1.7. Grant 5

1.1.7.1. Expected late July

1.2. HMRC makes payment

1.2.1. Within 6 working days

2. Excluded

2.1. Grants one to three

2.1.1. Trade profits for 18-19 below £50,001 and at least equal to non-trade income

2.1.1.1. Yes

2.1.1.1.1. Not excluded

2.1.1.2. No

2.1.1.2.1. Consider earlier years

2.2. Grants four and five

2.2.1. Trade profits for 19-20 below £50,001 and at least equal to non-trade income?

2.2.1.1. Yes

2.2.1.1.1. Not excluded

2.2.1.2. No

2.2.1.2.1. Consider earlier years

3. Eligibility

3.1. Grants one to three

3.1.1. Current and continuing trade

3.1.2. Tax return for 18/19

3.1.2.1. Submitted by 23/04/20

3.1.3. Impacted by COVID-19

3.1.3.1. Grants 1 and 2

3.1.3.1.1. Adversely affected by COVID-19

3.1.3.2. Grants 3 and 4

3.1.3.2.1. Either reduced demand or temporarily stopped trading

3.2. Grants four and five

3.2.1. Traded 19-20 and 20-21

3.2.2. Tax return for 19-20 submitted by 02/03/21

3.2.3. Either reduced demand or temporarily stopped trading

3.2.4. Will continue to trade

4. Calculation

4.1. Grant 1

4.1.1. Average monthly profits 19-20 x 3 x 80%

4.1.2. Capped at £7,500

4.2. Grant 2

4.2.1. Average monthly profits 19-20 x 3 x 70%

4.2.2. Capped at £6,570

4.3. Grant 3

4.3.1. Average monthly profits 19-20 x 3 x 80%

4.3.2. Capped at £7,500

4.4. Grant 4

4.4.1. Average monthly profits 20-21 x 3 x 80%

4.4.2. Capped at £7,500

4.5. Grant 5

4.5.1. Turnover for 20-21 reduced by 30% or more?

4.5.1.1. Yes

4.5.1.1.1. Average monthly profits 20-21 x 3 x 80%

4.5.1.1.2. Capped at £7,500

4.5.1.2. No

4.5.1.2.1. Average monthly profits 20-21 x 3 x 30%

4.5.1.2.2. Capped at £2,850

4.6. Resource: calculator

5. Grants are taxable

5.1. Entitled

5.1.1. IT & NICs

5.1.1.1. 20/21 for grants one to three

5.1.1.2. 21/22 for grants four and five

5.1.2. Universal Credit

5.2. Not entitled

5.2.1. 100% tax charge

5.2.2. Notify HMRC

5.2.3. Penalty if late notification

5.2.4. HMRC assessment or include in tax return