HMRC is reminding Self Assessment customers to declare any COVID-19 grant payments on their 2020/21 tax return
More than 2.7 million customers claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2021. These grants are taxable and taxpayers need to declare them on their 2020/21 tax return before the deadline on 31 January 2022.
The SEISS application and payment windows during the 2020/21 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.
SEISS is not the only Covid-19 support scheme that should declare on tax returns. If taxpayers received other support payments during Covid-19, they may need to report this on their tax return if they are:
- In a partnership.
- A business.
Information on which support payments need to be reported to HMRC and any that do not is available on GOV.UK.
It is important that checks are made, and any changes needed to tax returns implemented, to make sure any SEISS or other Covid-19 support payments have been reported correctly on the Self Assessment return.
Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “We want to help customers get their tax returns right, the first time. We have videos, guidance and helpsheets available online to support you with your Self Assessment. Search ‘help with Self Assessment’ on GOV.UK to find out more.”