As the deadline for filing of self assessment tax returns approaches, HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.
According to HMRC, more than 2.7 million tax-payers claimed at least one Self-employment Income Support Scheme (SEISS) payment up to 5 April 2021.
These grants are taxable and taxpayers should declare them on their 2020/21 tax return.
Other Covid-19 support schemes that need to be reported on tax returns include:
Myrtle Lloyd, HMRC's Director General for Customer Services, said:
'We want to help customers get their tax returns right, first time. We have videos, guidance and helpsheets available online to support you with your self assessment.'
Internet link: GOV.UK
