That’s correct lee.
That’s why I put mine first grant straight into a savings account and won’t spend it at all.
Once I know my turnover near the end of the tax year, I’ll know what’s left after tax to ‘spend’.
I did buy a load of new equipment to help bring my tax bill down though.
Also we need to remember, both grants were/will be paid in the same tax year, so it is going to cause a spike in turnover if you claim both and weren’t that effected.
Be better in some ways if the first grant was paid before April the 5th.
Anything over £50k is taxed at 40%, so the key is bring your turnover down. Monitor your turnover by month 9 of the tax year, and either cut back on work you don’t want to do (one offs, etc) to bring the turnover down. Or buy some new, expensive, but legitimate equipment to bring your profit down.
I do this most years. Check my turnover, then buy a new pole, brushes, maybe a new pressure washer, to bring my profit down.