HMRC is reminding taxpayers to declare their self-employed income support scheme (SEISS) payments in their self-assessment return for the 2021/22 tax year.
The Government paid SEISS grants to eligible businesses adversely affected by the Covid-19 pandemic. Over 2.9 million people claimed at least one SEISS payment in the 2021/22 tax year.
These grants are subject to both income tax and National Insurance contributions (NICs) and must be declared before the approaching self-assessment return deadline on 31 January 2023.
SEISS grants are not the only Covid-19 support payments that need to be included in customers' returns. Self-employed people and businesses that received other support payments through initiatives like the furlough scheme or eat out to help out should check to see if they need to be declared as well.
Customers can find out more about reporting coronavirus financial support payments for the 2021/22 tax year on the Government website.
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 and guidance available online to support you with your Self Assessment. Search ‘help with Self Assessment' on GOV.UK to find out more."
Talk to us about your tax return.
