HMRC has issued guidance on the third SEISS grant and specifically how trading conditions affect eligibility.
To be able to claim for the third grant, you must either:
- be currently trading but are impacted by reduced demand due to coronavirus
- have been trading but are temporarily unable to do so due to coronavirus
You must also: –
- intend to continue to trade
- reasonably believe there will be a significant reduction in your trading profits due to reduced demand or your inability to trade
You must also meet all other eligibility criteria to make a claim.
HMRC states that it expects SEISS claimants to make an honest assessment about whether they reasonably believe their businesses will have a significant reduction in profits.
Please talk to us about making a SEISS claim, we can work through your figures and make an accurate estimate of what you should expect.
See here for more details.
