The Chancellor announced full details of the fourth SEISS grant in today's Budget.
The grant will be for the months of February, March and April 2021, with the claims portal opening in mid-to-late April. Grants will be capped at £7,500, and based on 80 percent of average profits.
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The delay for the announcement and ability to make claims was revealed to be the inclusion of data from the 2019/2020 tax returns which should have been submitted by March 2021.
The new claims process will base the eligibility criteria on the 2019/2020 tax year and only use incomes from previous years if the 2019/2020 income is not available. The value of the grant however will be based on income data for all available tax years from 2016/17 to 2019/20.
A fifth SEISS grant has also been announced with new eligiblity terms and will be available around September.