When is the next SEISS payment due? How to find out when you’ll get paid

Martin Lewis grills Rishi Sunak over SEISS timetable

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The Self-Employment Income Support Scheme (SEISS) is the Government’s flagship support initiative for self-employed people during the pandemic. Applications for SEISS grant three closed at the end of January 2021 and claimants must wait a bit longer for SEISS grant four. Express.co.uk spoke to self-employment experts to find out more about the next SEISS instalment.

When will SEISS grant four applications open?

Few details have been released about the fourth SEISS grant to date.

However, the Chancellor confirmed in the Budget the fourth grant will be worth 80 percent of average monthly trading profits.

For the three-month period of February to April 2021, this grant will be capped at £7,500 in total.

The Government has also confirmed the grant will be open for applications from late April until May 31, 2021.

How do you find out when you’ll get paid?

When claimants get paid will depend on what date has been allocated by HMRC as their personal claim date.

Claimants will have to wait until mid-April to be contacted with a date to apply from.

Michael Copeland at Wesleyan Group, the specialist financial services mutual, told Express.co.uk: “We’re still waiting for the Government to confirm exactly when applications for the fourth round of SEISS payments will open, although the latest updates tell us to expect late April.

“If you are eligible for the fourth grant, HMRC will contact you mid-April to give you a personal claim date. This will be the time that you can make your claim from.”

When applications open, claimants can expect to be paid the fourth SEISS payment shortly after filing their application.

Joanne Harris, Technical Commercial Manager at the accountancy firm Nixon Williams, which works with sole traders, contractors and freelancers, told Express.co.uk the fourth grant is likely to be paid out within six working days after a claimant’s application is received.

Ms Harris said: “From late April, a fourth SEISS grant will be available and those who are eligible can apply directly through the Government’s website.

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“It is thought that claims will be open until May 31, 2021, but this grant will cover the period running between February, March and April 2021.

“As with previous grants, HMRC will contact eligible taxpayers and invite them to apply after the specified date.

“Previously HMRC has paid grants within six working days of receiving an application and I expect this will be the case for the fourth grant also.”

While the SEISS grants have been helpful to many claimants over the last year, it is important recipients keep in mind the grants are still taxable.

Mr Copeland added: “For those eligible and receiving funds from SEISS now, it’s important to remember that the money is still subject to tax.

“Individuals need to be careful to factor this into their own financial plans, and ensure it is reported correctly to HMRC.”

When will the fifth SEISS grant be paid?

Currently, very few details have been announced about SEISS grant five.

However, it has been confirmed the fifth grant will cover May to September, but will only be worth three months’ worth of average monthly trading profits.

Applications will open for SEISS grant five from the end of July 2021.

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