Personal Tax: SEISS is being split/apportioned or missing in 70.1 between years?

personal-tax-seiss-is-being-split-apportioned-between-years

Personal Tax: SEISS is being split/apportioned or missing in 70.1 between years?

4th November 2021

IRIS Personal Tax: Why is the SEISS grant being being split/apportioned or missing between years?

HMRC states that the SEISS grants must be reported in the Tax year they are claimed.

However, in these instances the SA100 Tax Return does correctly populate Box 70.1 but the HMRC have not updated their working sheet to cater for businesses where the basis period does not match the Account Period (when the trade starts, ceases or has a extended/long Account Period).

The Personal Tax calculation follows the HMRC worksheets which takes the value in Box 70.1 (grant value) and add it to the profit BEFORE it is then pro-rata for the basis period.

IRIS will contact HMRC as to how they expect this to be completed as they have not catered for this scenario.

We would advise the any user who has been affected by this to contact the HMRC as well in this instance. There is nothing to amend on the Tax Return as it is showing the correct amount as expected in the correct box.

If the SEISS is missing under one of the Self Employment 70.1: Some users have decided to workaround the issue and move the SEISS income into the other period which will then show on the 70.1 box. Please add a note under Reliefs/Additional information to explain why you did this.