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by Gavin Hooker
HM Revenue and Customs (HMRC) is reminding Self-Assessment tax payers to declare any COVID-19 grant payments on their 2020 to 2021 tax return.
These grants are taxable, and you should declare them on your 2020 to 2021 tax return before the deadline on 31 January 2022.
The Self Employed Income Support Scheme (SEISS) application and payment windows during the 2020 to 2021 tax year were:
SEISS is not the only COVID-19 support scheme that tax payers should declare on their tax return. If you received other support payments during COVID-19, you may need to report this on your tax return if you are:
You need to report grants and payments from the following COVID-19 support schemes:
For information on reporting coronavirus (COVID-19) grants and support payments see:
Reporting coronavirus (COVID-19) grants and support payments - GOV.UK (www.gov.uk)
If you need any assistance with your self-assessment tax return and where to enter the COVID-19 grants, please talk to us as we can make sure you are reporting the correct information to HMRC.
The content in this blog is correct as at 5 January 2022.
09 Jan 2022
On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm.
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.