The fourth taxable grant will cover 80% of average trading profits, capped at £7,500. The fourth grant will take into account 2019 and 2020 tax returns and will be open to those who became self-employed in the tax year 2019/2020.
Eligibility for the scheme will be based on the tax return submitted for 2019/2020 which must have been submitted by 2 March 2021.
A claim for this grant will be available in April.
There will also be a fifth grant to cover May to September income. Claim for this will be available in late July.
Self-employed people whose turnover has fallen by 30% or more will be able to claim the full 80% grant. Anyone else will be able to claim a lower grant, worth 30% of their average profits.
