If you're self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) you may be eligible to claim the fifth grant if you think that your business profit will be impacted by coronavirus (COVID-19) between 1 May 2021 and 30 September 2021.
If you’re eligible based on your tax returns, HMRC will contact you in mid-July to give you a date that you can make your claim from. You must make your claim on or before 30 September 2021. Who can claim You must be a self-employed individual or a member of a partnership. You must also have traded in both tax years:
2019 to 2020
2020 to 2021
submitted your 2019 to 2020 tax return on or before 2 March 2021
trading profits of no more than £50,000
trading profits at least equal to your non-trading income
Non-trading income is any money that you make outside of your business. For example, if you also have a part-time job or pension.
The fifth grant offers 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500.