The third grant will be capped in total at £5,160 over the three-month period and will be subject to income tax and National Insurance contributions.

The fourth SEISS grant will cover February to April 2021, but HMRC has not announced how much the grant will be worth.

The Government website currently states: “The second grant will cover a three-month period from February 1, 2021 until April 30, 2021.

“The Government will review the level of the second grant and set this in due course.”

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