[Jay Le Huray]

I keep getting emails from HMRC ref  putting in a claim , at first I was not going to bother but as they keep pestering me I may as well claim.


So for those that have already claimed my question is, is the claim means tested as I have a lot in my savings account?
I'm also on a state pension, do the ask you if you have savings?

I only went back to work 2 weeks ago and was self isolated for 6 weeks and I was living off my savings.

Thanks in advance
Jay

[Slacky]

No, its not means tested. They work the amount out depending on your previous three years self-employed tax submissions.

They work it out and thats what you get regardless of any other financial circumstances you may have.

You're entitled to it, you've lost money because of the virus.

[G Griffin]

I keep getting emails from HMRC ref  putting in a claim , at first I was not going to bother but as they keep pestering me I may as well claim.


So for those that have already claimed my question is, is the claim means tested as I have a lot in my savings account?
I'm also on a state pension, do the ask you if you have savings?

I only went back to work 2 weeks ago and was self isolated for 6 weeks and I was living off my savings.

Thanks in advance
Jay

Your savings won't come into it, I don't think.
The only problem is that if your pension(s) make up more than 50% of your income. I think that's what happened to combat.
I'd guess you'd be ok to claim, Jay.
You should, mate.

Ps. do the eligibility test to check.

[Jay Le Huray]

thanx guys I might do it tomorrow

[Ste b]

thanx guys I might do it tomorrow

Don’t “might” get it done you have been affected, 6 weeks off is a loss in income. Regardless of if you claim or not I imagine we will all be paying it back sooner rather than later

[Spruce]

thanx guys I might do it tomorrow

Your pension doesn't come into the calculation.

The calculation is done on your business turnover, less expenses, AIA claims and capital gains claims over the tax years 2016/7, 2017/8 and 2018/9. The average of those years is calculated, /12 x 3.
They have those figures from your tax returns so you don't need to worry about getting them.

They will just ask you to declare that your business has been adversely affected by CV. They also advise that they reserve the right to act on fraudulent claims.

If you declare that your business has been adversely affected and your turnover/profits show an increase in the 2020/21 tax year over their average then I'm sure they will ask questions. The only income I have had since the 23rd March has been a couple of outstanding debts paid so I expect so far for my turnover to be down by 25% over last year. Today was my first day back so I don't know what the next 3 months brings.
If my turnover is 50% of the equivalent period last year does this mean my business is still being adversely affected by CV?  My interpretation of adversely probably isn't the same as the governments interpretation of it.

In 2017/8 I got a pension lump sum. To offset that I purchased a 'new' van. So I didn't pay any income tax that year. However the claim for the van has reduced my profit (turnover less expenses claims)  average and hence reduced my payment on the scheme.

 

[G Griffin]

I think combat was ineligible because his profits were less than 50% of his income.
He received the state pension and a small private pension as well as working.
He said he was over the state aid limit but I'm not sure that was right.

[Spruce]

I think combat was ineligible because his profits were less than 50% of his income.
He received the state pension and a small private pension as well as working.
He said he was over the state aid limit but I'm not sure that was right.

I honestly thought they would consider one's pension. but they didn't with mine. If they rejected Combats claim then there must be a cutoff point. Someone of here states they got £7000 and the wife also got £7000 so something doesn't add up.

His profits and the purchase of a van and expect other equipment could have tipped the scales. Claiming my van against tax cost me £702 on this payout. But I'm sure my tax bill would have been higher on my pension lump sum had I not done that. I'm not complaining.

 

[KS Cleaning]

Griff is correct, to be eligible for the grant your self employed income must be your main source of income, so if your pension outweighs what you earn from self employment you don’t qualify.

[G Griffin]

I think combat was ineligible because his profits were less than 50% of his income.
He received the state pension and a small private pension as well as working.
He said he was over the state aid limit but I'm not sure that was right.

I honestly thought they would consider one's pension. but they didn't with mine. If they rejected Combats claim then there must be a cutoff point. Someone of here states they got £7000 and the wife also got £7000 so something doesn't add up.

His profits and the purchase of a van and expect other equipment could have tipped the scales. Claiming my van against tax cost me £702 on this payout. But I'm sure my tax bill would have been higher on my pension lump sum had I not done that. I'm not complaining.

 

It'd be like if you had a part time job in which you earned more than from self employment; you wouldn't get it.
I think they'll have considered your pension and seen that it was less than 50% of your income.
I'm just speculating that this happened to combat though.

[Jay Le Huray]

just done it, took 2 minutes and I got awarded £2000 happy days

[P @ F]

Sponger   

[Jay Le Huray]

Sponger   

LOL
for the first time in my life, I have never claimed or been on the social since leaving school 52 years ago

[P @ F]

You deserve it for being stuck in for all them weeks mate 

[Jay Le Huray]

You deserve it for being stuck in for all them weeks mate 

cheers buddy

[dazmond]

just done it, took 2 minutes and I got awarded £2000 happy days

it wont cover 5 weeks of lost earnings(unless you only earn £400 a week) but its better than nothing.......

best wishes mate......

[Jay Le Huray]

just done it, took 2 minutes and I got awarded £2000 happy days

it wont cover 5 weeks of lost earnings(unless you only earn £400 a week) but its better than nothing.......

best wishes mate......

no you are right it won't cover the losses but hey better than nothing

[G Griffin]

just done it, took 2 minutes and I got awarded £2000 happy days

it wont cover 5 weeks of lost earnings(unless you only earn £400 a week) but its better than nothing.......

best wishes mate......

no you are right it won't cover the losses but hey better than nothing

A small price to pay for your wife being ok though, Jay  .

[Jay Le Huray]

just done it, took 2 minutes and I got awarded £2000 happy days

it wont cover 5 weeks of lost earnings(unless you only earn £400 a week) but its better than nothing.......

best wishes mate......

no you are right it won't cover the losses but hey better than nothing

A small price to pay for your wife being ok though, Jay  .

very true griff

[Slash]

thanx guys I might do it tomorrow

Don’t “might” get it done you have been affected, 6 weeks off is a loss in income. Regardless of if you claim or not I imagine we will all be paying it back sooner rather than later

I'm glad I didnt claim it as it needs to be paid back.