Employment Allowance ‚ Clarification of State aid sector identification when claiming the EA for 2020/21
This webinar, which was broadcast live on Thursday 7 May 2020 explored who is eligible for the SEISS, how much they might receive and the process for making claims, and was followed by a Q&A session.
SEE A RECORDING HERE: Self-employment Income Support Scheme ‚ CIOT and ATT webinar 7 May 2020
THE WEBINAR SLIDES ARE HERE
Since the webinar was recorded,
The Chancellor has announced that the SEISS will be extended with those eligible able to claim a second and final grant in August. Further information on the second grant will be available on GOV.UK on 12 June 2020.HMRC have announced that applications for the first grant will close on 13 July 2020. Legislation to be included in Finance Act 2020 has been published which states that the whole of the SEISS grant is treated as profits of the tax year 2020/21, and HMRC‚ s guidance explains that it should be reported on the 2020/21 self-assessment tax return. No apportionment to 2019/20 is required. The webinar slides have been updated to reflect this new information.
We ran a second webinar on Tuesday 7 July 2020 which provided a recap of the scheme and looked at what‚ s new ‚ for more details see here.
Further information about the SEISS can be found on the CIOT‚ s dedicated COVID-19 pages here and the ATT pages here.