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This year has been very different and, for many, a very challenging 12 months. For the construction industry, particularly, the true cost of COVID-19 may only start to be realised now. We estimate that 95% of the construction industry will not receive a tax rebate this year.

All of the SEISS grants are subject to tax and national insurance. For the majority of taxpayers, the combined rate is 29%. That means 29% of the support you received will now be due back to HMRC.

So if you received £10000 in Grants, the cost of those grants is now £2900, and this cost will now be included in your tax calculation. This will significantly impact your repayment, and some clients may even receive a tax and national insurance bill.

To help guide you through how the true cost of COVID-19 will affect you, we have developed this calculator for you.

Total income from CIS jobs
Total SEISS grants received

Tax deducted by HMRC
Total allowable expenses

Your predicted rebate: £0

This calculation includes self-employed income and CIS tax deductions

Here is a detailed breakdown of how this calculation is perfomed

This may be useful if the repayment is less than you expected.

Fill in the form above. Once you provide your answers we'll show some more information here for you.

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