A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021.

The grant is taxable and will be paid out in a single instalment.

guidance for claiming the grant will be available by the end of June 2021.

 

How The Fifth Grant Is Different

the amount of the fifth grant will be determined by how much your turnover has been reduced in the year April 2020 to April 2021.

HMRC will provide more information and support by the end of June 2021 to help you work out how much turnover was affected.

 

How Much You’ll Get

If your turnover was reduced by 30% or more you will get 80% of the 3 months’ average trading profits with a maximum grant of £7,500.

And if your turnover is less than 30% you will receive 30% of the 3 months’ average trading profit with a maximum grant of £2,850.

 

When You Can Claim

The online claims service for the fifth grant will be available from late July 2021.

If you’re eligible based on your tax returns, HMRC will contact you in mid-July 2021 to give you a date that you can make your claim.

Rachael Olukoju
Rachael Olukoju

Rachael is a diligent qualified accountant with audit experience and joined us from a top 15 accountancy firm. With a thirst for knowledge and personal development, Rachael continues to study towards further qualifications. She is a strong communicator who is passionate, goal-driven and leads by example. Rachael has significant experience in management and statutory accounts preparation and review alongside a strong understanding of reporting and completion against strict deadlines.