The opportunity to claim the first grant will be lost after 13 July.
HMRC subsequently amended the guidance to state that if a business has been adversely affected because of Covid-19 at any point up to 13 July, they will qualify for the first SEISS grant (assuming all other conditions are met).
Only if a business is adversely affected by Covid-19 from 14 July can they claim a second grant.
Businesses which have seen a downturn in trade more recently (for example a sole trader having to take sick leave because of Covid-19) might have thought they were ineligible for the first SEISS grant when the claim process opened in May. LITRG is concerned that those in this position may not have subsequently realised they are eligible for the grant.
Victoria Todd, LITRG head, said: ‘HMRC have announced some important changes to the first SEISS grant and potential claimants need to be aware of these or otherwise risk missing out on important government support. We are urging anyone who has not claimed the first SEISS grant, either because they thought they were not eligible or because they think they are eligible for the second grant instead, to check their eligibility carefully.
Accountingweb Update 3 July 2020