Martin Lewis gives update on SEISS grant 5 as many feel ‘frustrated’ - 'completely unfair'
Martin Lewis, Money Saving Expert, has offered invaluable advice to thousands of Britons on a wide range of topics. But today he appeared on ITV’s This Morning alongside presenters Holly Willoughby and Phillip Schofield to issue the latest guidance on the self-employment grant. SEISS, otherwise known as the Self-Employment Income Support Scheme, has supported millions of self-employed individuals throughout the pandemic.
The eligibility criteria, however, is exactly the same as the fourth grant, meaning those who claimed the most recent form of support will not have to check again to see if they can claim.
People will need to make a declaration to HMRC which states they “reasonably believe” there will be a significant reduction to their trading profits across this time due to COVID-19.
Martin warned, however, of a big change which he stated is currently confusing many self-employed individuals.
This is due to the fact the fifth grant is changing for the first time to include what is known as a turnover test – which determines how much a person can receive.
Turnover, the Government states, includes the “takings, fees, sales or money earned or received” by a person’s business.
