The warning from HM Revenues and Customs (HMRC) comes as figures show more than 2.7 million customers claimed at least one Self-Employment Income Support Scheme (SEISS) payment in 2021. As these grants are taxable, failure to declare them on their tax return could land Britons in trouble.
SEISS payments were made to help Britons during the pandemic and how much someone received depended on their profits.
The first grant worked out at 80 percent of an individual’s average monthly income and was paid in May or June 2020.
A second grant was made available for self-employed individuals whose businesses were adversely affected by the pandemic on or after July 14, 2020.
If anyone received the third grant, that would also need to be declared as it was paid to affected Britons between November and January 2021.
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Meanwhile, more than 20,000 customers, who have been unable to pay their tax bill in full this year have taken advantage of the self-serve time to pay facility.
The online payment plan helps customers who may feel…
