When is the 5th SEISS payment due? Latest update
The Self-Employment Income Support Scheme (SEISS) has offered four taxable grants to eligible claimants so far. In early July, the Government’s guidance for SEISS grant five was updated to highlight key dates claimants should be aware of for the upcoming grant. So read on for more information on SEISS eligibility, applications and payments.
How will turnover affect SEISS grant five?
Turnover will have a significant impact on how much claimants get from SEISS grant five.
There are two levels of SEISS grant and if someone’s turnover has decreased by less than 30 percent, they will be eligible for a grant worth 30 percent of three months’ average trading profits, capped at £2,850.
If a claimant’s turnover has decreased by 30 percent or above, the grant will be worth 80 percent of three months’ average trading profits, capped at £7,500.
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