Self-employed reminded to declare Covid-19 grants on their tax return

Those who are yet to complete their self-assessment tax return are being reminded to ensure that they include any Covid-19 grants, which are taxable.

Figures show that more than 2.7 million customers claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to the 5^th April 2021.

These grants need to be declared on a 2020/21 tax return before the deadline on the 31^st of January 2022.

For reference, the SEISS application and payment windows during the 2020/21 tax year were:

• SEISS 1: 13^th May 2020 to 13^th July 2020
• SEISS 2: 17^th August 2020 to 19^th October 2020
• SEISS 3: 29^th November 2020 to 29^th January 2021

Myrtle Lloyd, HMRC’s Director General for Customer Services, said, “We want to help customers get their tax returns right, first time. We have videos, guidance and helpsheets available online to support you with your self-assessment. Search ‘help with self-assessment’ on GOV.UK to find out more.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.