HM Revenue & Customs (HMRC) has published new guidance for construction workers claiming the fifth Self Employment Income Support Scheme (SEISS) grant.
If you are self-employed and are in the Construction Industry Scheme (CIS), here’s what you need to know.
What is the Self Employment Income Support Scheme?
The SEISS is designed to support self-employed workers who have lost revenue as a result of the coronavirus pandemic. Self-employed workers can now claim the fifth grant.
How much can I get?
Self-employed workers are entitled to a lump sum grant of either:
- 80 per cent of three months’ average trading profits, up to £7,500; OR
- 30 per cent of three months’ average trading profits, up to £2,850
depending on the outcome of the new “turnover test”. This test is explained below.
What is the “turnover test”?
The “turnover test” involves working out your turnover for a 12-month period, starting on any day from 01 April 2020 to 06 April 2020, and comparing your turnover from either 2019 to 2020 or 2018 to 2019 to use as a reference year.
The level of grant you receive may be higher or lower depending on how much revenue you have lost as a result of the pandemic.
What is the new guidance for CIS construction workers?
According to the new guidance, your turnover “must include the full amounts on your invoices, before any deductions contractors have made in the ‘CIS deductions’ field” when calculating your turnover for the pandemic year and the reference pre-pandemic period.
When is the deadline to claim the fifth grant?
The last day you can apply for the fifth SEISS grant is 30 September 2021.
For help and advice applying for this grant or any others, please get in touch with our Grant Services Manager Janet Brown on 01778 380850or at janet@mooret.co.uk