Self-Assessment returns: Include your COVID-19 payments!

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. 

About the Author

Paul Newbold

Partner

After qualifying with KPMG where he gained significant audit experience, Paul joined Torgersens in 1991 and became the firm’s audit partner in 2000. Paul employs his broad range of financial skills to provide commercial and accounting advice to a range of owner-managed businesses in the independent retail, education and professional services sectors. He also has extensive experience dealing with charities, Registered Social Landlords and not-for-profit organisations and co-operatives.   Outside of work, Paul likes to visit Eastern France and South-West German and read novels by David Morrell, Michael Blake and Harper Lee. He also likes watching films, his favourite is The Shawshank Redemption.

To get in touch please e-mail paul.newbold@torgersens.com.