Martin Lewis urges self-employed to file tax return quickly in case SEISS grant 4 changes
Martin Lewis criticises Sunak’s ‘short sighted policy making’
Martin Lewis exclusively revealed on Friday night that the details of the fourth SEISS grant would be revealed by HM Treasury at the spring Budget on March 3. This particular grant, announced by Chancellor of the Exchequer Rishi Sunak last year, is intended to cover the period from February to April.
A Treasury spokesperson said: “Details of the fourth self-employed income support scheme grant will be outlined at Budget.”
Due to details being kept under wraps until March 3, it’s not currently known how much the fourth grant will be, or what the rules are surrounding it.
However, Martin has shared his suppositions on what could happen.
Speaking on Nihal Arthanayake’s BBC Radio 5Live show today, he explained changes could potentially be ahead.
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The financial journalist and campaigner also addressed how unlike previous grants, this one will be one which people can apply for following the 2019 to 2020 Self Assessment Tax Return deadline.
As such, it may be that there is a change to eligibility rules – although this speculation.
This particular tax return deadline is a matter of days away – falling at midnight on January 31, 2020.
“If we try and add two and two together, and I am perhaps making five, so everything I am about to say is supposition, and I need to be very plain on that,” he began, before suggesting there is both “principled problems and practical problems” as it stands.
“I think there is a unique opportunity for the fourth grant to address some of those practical problems,” Martin stated.
“The first being that you have to have filled in a 2018/19 tax return in order to be eligible for this grant.
“Well, by that time, at the end of this month, people will have filled in their 2019/20 tax returns.
“We will have passed the deadline.
“So I think it is certainly plausible that that income will now be included into the assessment, and I would give that a better than 50 percent chance of happening.
“And, I would certainly urge anybody who is self-employed, even if you’ve not been eligible for this help, to get your tax return in quickly.”
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