When is the 5th SEISS payment due? Timeline explained

When is the 5th SEISS payment due? Timeline explained

Earlier this month, the Government provided an update on the fifth SEISS grant via its website. However, only limited details about the final instalment were revealed, with further information expected in due course. Based on what we know so far, here is the timeline for SEISS grant five that claimants should be aware of.

End of June

Further details about claiming SEISS grant five are expected to be announced in due course.

The Government website currently states: “Guidance for claiming the grant will be available by the end of June 2021.”

The fifth SEISS grant will cover the claim period of May to September 2021.

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“Do not contact us unless it has been more than 10 working days since you made your claim and you have not received your payment in that time.”

The fifth grant will be paid out in one single instalment.

The grant will be worth 30 percent of three months’ worth of average trading profits, capped at £2,850, if the claimant’s turnover has reduced by less than 30 percent.

If the claimant’s turnover has reduced by 30 percent or more, they may be eligible for a grant worth 80 percent of three months’ average trading profits, capped at £7,500 in total.

Published at Thu, 24 Jun 2021 21:44:00 +0000