HMRC is reminding taxpayers to declare any Covid-19 grant payments on their 2020-21 tax return.
More than 2.7 million taxpayers claimed at least one self-employment income support scheme (SEISS) payment up to 5 April 2021. The SEISS application and payment windows during that tax year were:
- SEISS 1: 13 May 2020 to 13 July 2020
- SEISS 2: 17 August 2020 to 19 October 2020
- SEISS 3: 29 November 2020 to 29 January 2021
Taxpayers who received any other support payments – including coronavirus job retention scheme grants - during the pandemic may need to report them on their tax return if they are self-employed in a partnership or a business. Employees’ P60s should include any furlough payments they received up to 5 April 2021 so they do not need to include furlough payments separately on their tax return.
Information on which support need to be reported to HMRC and any...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.