The Self-employed Income Support Scheme (SEISS) was launched in May 2020. The scheme provided eligible self-employed individuals or business partners with access to 3 grants totalling £21,570 during 2020/21.
These 3 SEISS emergency support grants are taxable and for many self-employed individuals will represent a large proportion of their taxable income for 2020/21 as many businesses were forced to close or struggled to do business due to lockdown restrictions.
Find out more about reporting SEISS grants and the records that are required in this October Active Practice Update.
If you would like to discuss in more detail any of the issues raised with a member of our team, please call 01772 741200