In advance of the 2021/22 self-assessment filing deadline on 31 January 2023, HMRC has issued a reminder to self-assessment taxpayers that COVID-19 payments, including Self-Employed Income Support Scheme (“SEISS”) grants, are taxable and must therefore be declared on self-assessment tax returns for 2021/22.
Any SEISS grant payments received between 6 April 2021-5 April 2022 must be included on an individual’s 2021/22 self-assessment return. Certain other COVID-19 support schemes are also taxable (such as those made to the self-employed, partnerships or businesses) hence taxpayers should check whether these also need to be reported. Job retention scheme grants are also taxable and must also be included.