If you are self-employed and are aiming to claim the 5th SEISS grant…. 💥 Do you know about this big 3-0? 💥
The big 3-0 is Big-G’s ☠️ backbone ☠️ in the the new turnover test for the 5th Self-Employed Income Support Scheme (SEISS)….
❓What does it mean ❓
🤓 Basically, Big-G wants to know if your 💷💷 turnover 💷💷 has ⏬ reduced ⏬by 30% or more…..
❓”30% between what and when?” ❓ We hear you 🎙holla 🎙
Well, its kinda simples……
🤓 Has your turnover reduced by 30% or more between…
💥 The PANDEMIC PERIOD 💥
🤓 The 12-month period starting on any date between the 1st and 6th of April 2020
💥 The REFERENCE PERIOD 💥
🤓 The turnover figure from the 2019/20 tax return (with an option to use the 2018/19 tax return of the 2019/20 year was not a normal year of business)
🤓 The portal for claims opens later this month – but make sure you 💥 know your 30 💥 before you apply!
For more information, check out Big G’s guidance here:
And for industry insight you can check out…
💥 AccountingWeb’s 💥 article here
Or 💥 The Institute of Chartered Accountants in England and Wales’s (ICAEW)💥 article here
😍😍😍Stay safe everyone 😍😍😍