November 25. 2020
Applications are
now live for the third SEISS grant and if you are going to apply you must do so
by the 29th January 2021. HMRC have stated you must make an honest
assessment of your business and you must be able to show you have experienced a
significant reduction in profits. You must also meet all other eligibility
criteria to make a claim.
We
strongly recommend you refer to the examples provided by HMRC, their guidance can be accessed here, it
is helpful for understanding what they mean by reduced demand or temporary
closure. Here are a few examples;
Unable
to trade and reasonable belief
A
hairdresser has had to shut his shop due to government restrictions. He will
not have any income due to the closure and reasonably believes the reduction in
his trading profits will be significant. He is eligible to claim the third
grant.
Reduced
demand and no reasonable belief
A
café owner has fewer customers due to government restrictions on households
mixing, which initially reduces her takings. She increases her prices and
believes her trading profits will not reduce significantly, so she is not
eligible to claim the third grant.
Unable
to trade and no reasonable belief
A
builder has developed coronavirus symptoms and self isolates for 5 days before
receiving a negative test result. During those 5 days he was unable to work
from home but was able to rearrange his contracts. He does not believe there
will be a significant reduction in his trading profits. He is not eligible to
claim the third grant.
As expected HMRC are receiving high levels
of contact, click here for the different ways to reach out to HMRC, if you need
to.
.png)