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Rob.Hall

  • Posts: 1077
Gov grant and tax
« on: November 26, 2021, 05:19:14 pm »
Just sorting hmrc tax return.
Is the gov grant taxed as a  separate identity, (ie pay tax on the grant individually)?
Or, is it bundled in with the profit and loss account?

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NWH

  • Posts: 16952
Re: Gov grant and tax
« Reply #1 on: November 26, 2021, 05:47:38 pm »
It would go together as your total income so if you took 20k and had a 10k grant you’ll be paying tax on 30.
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Rob.Hall

  • Posts: 1077
Re: Gov grant and tax
« Reply #2 on: November 26, 2021, 06:05:11 pm »
That's what I thought.
Thanks.
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Ggh

  • Posts: 1776
Re: Gov grant and tax
« Reply #3 on: November 28, 2021, 03:45:41 pm »
What grant?
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AuRavelling79

  • Posts: 25383
Re: Gov grant and tax
« Reply #4 on: November 28, 2021, 04:05:09 pm »
Quote from: Ggh on November 28, 2021, 03:45:41 pm
What grant?

The grant for self employed that earned less than 50K a year?
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It's a game of three halves!

Ggh

  • Posts: 1776
Re: Gov grant and tax
« Reply #5 on: November 28, 2021, 06:55:11 pm »
Quote from: AuRavelling79 on November 28, 2021, 04:05:09 pm
Quote from: Ggh on November 28, 2021, 03:45:41 pm
What grant?

The grant for self employed that earned less than 50K a year?

Oh.


Lucky them.
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AuRavelling79

  • Posts: 25383
Re: Gov grant and tax
« Reply #6 on: November 28, 2021, 07:30:52 pm »
Quote from: Ggh on November 28, 2021, 06:55:11 pm
Quote from: AuRavelling79 on November 28, 2021, 04:05:09 pm
Quote from: Ggh on November 28, 2021, 03:45:41 pm
What grant?

The grant for self employed that earned less than 50K a year?

Oh.


Lucky them.

Not really. It meant their business was affected by Covid and they felt the should claim some government assistance.
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It's a game of three halves!

Ggh

  • Posts: 1776
Re: Gov grant and tax
« Reply #7 on: November 28, 2021, 09:12:38 pm »
Fortunate they were offered help.
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