Self-employed Brits are being warned to stay alert for scammers as the fifth SEISS grant opens for applications.
The final SEISS grant - officially known as the self-employed income support scheme - offers eligible workers support worth up to 80% of their profits, capped at £7,500, if their business has been affected by coronavirus.
Applications opened from July 29, with each person given a personalised date for when they can claim from.
The last date for when an application can be submitted is September 30, 2021.
But as the financial support finally opens up, HMRC has confirmed scammers are pretending to be part of the SEISS scheme.
In a tweet, HMRC said: "Scammers are targeting the Self-Employment Income Support Scheme.
"GOV.UK is the only place you can make your claim - fifth grant opens for claims soon."
Have you had any issues applying for the fifth SEISS grant? Let us know: mirror.money.saving@mirror.co.uk
HMRC said you should not answer any phone calls, emails and text messages if they are out of the blue, or offer a refund, tax rebate or grant that you’re not aware of.
Requests for personal information like bank details are also likely to be a scam, as are threats or “urgent” calls for you to transfer money.
HMRC will only ever call you asking about a claim or payment on a debt that you already know about.
It will also never leave a voicemail threatening legal action and never give the reason for a call on a voice message.
If you think you’ve already fallen victim to a scam, you can report it to the HMRC security team.
You should also report it to Action Fraud online or by calling 0300 123 2040.
Or if you live in Scotland, contact Police Scotland.
If you handed over any sensitive information, it is also worth contacting your bank and changing your passwords.
How much is the SEISS grant and who is eligible?
The fifth and final SEISS grant will cover the period from May 2021 to September 2021 - but like the previous grants, it is only worth three months’ of trading profits.
If you are eligible, you should have by now been contacted by HMRC with your earliest date to apply.
How much the grant is worth is then determined by how much your business has been affected by the coronavirus crisis.
If your turnover is down by 30% or more, your grant will be worked out at 80% of three months’ average trading profits, capped at £7,500.
Or if your turnover is down by less than 30%, your grant will be calculated at 30% of three months’ average trading profits, up to a maximum of £2,850.
To prove this you will need to give turnover figures so HMRC can see exactly how badly your business has been hit by Covid.
You do not need to give turnover figures if you began trading in 2019 or 2020.
The eligibility for SEISS five is the same as it was for the fourth grant.
For the fourth grant, you must have:
Filed a 2019/20 tax return
Traded in both the 2019/20 and 2020/21 tax years - and continue to trade beyond this
Seen your business profits impacted by the coronavirus crisis - and have evidence of this
Earned at least 50% of your total income from self-employment
Recorded average trading profits of £50,000 a year or less
You can apply for your fifth SEISS grant this online on the HMRC website. You will need:
- A Self Assessment Unique Taxpayer Reference (UTR)
- Your National Insurance number
- Your Government Gateway user ID and password
- UK bank details
