A reminder that taxpayers must declare COVID-19 payments in their tax return for the 2021 to 2022 tax year.
HMRC advised that more than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2022. These grants are taxable and should be declared on tax returns for the 2021 to 2022 tax year before the deadline on 31 January 2023.
The SEISS application and payment windows during the 2021 to 2022 tax year were:
- SEISS 4: 22 April 2021 to 1 June 2021
- SEISS 5: 29 July 2021 to 30 September 2021
However, SEISS is not the only COVID-19 support scheme that should be declared on tax returns. If you received other support payments during the 2021 to 2022 tax year, these may need to be reported on your tax return if you are:
- self-employed
- in a partnership
- a business
For full details, see the gov.uk web page here.
Further help
If you are unsure about your own situation, please drop us a line at enquiries@torgersens.com.
The information provided in this blog is for general informational purposes only and should not be considered professional advice. As far as we are aware, the content is accurate at time of publication. Torgersens assumes no responsibility for errors or omissions in the content or for any actions taken based on the information provided.
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