Have they said what the eligibility criteria is for them?
I claimed 1 and 2 but was abit afraid to go for the 3rd based on the criteria
Self employed gov grant
- Thread starter Beefsmith
- Start date
I claimed 1 and 2 but was abit afraid to go for the 3rd based on the criteria
ACEngineering
Member
- Location
- Oxon
I think they have widened the criteria to include newer businesses.
- Location
- West Wales
Right so from the email they sent it says their now going off 2019/2020
unlike last years where they went 2018/2019
So me having a new business couldn’t claim a dime on any sort of grant yet quite a few business’s I’m involved with and get paid well from (my only salary) have had 0 payment in 12 months yet rents etc still need paying on them
unlike last years where they went 2018/2019
So me having a new business couldn’t claim a dime on any sort of grant yet quite a few business’s I’m involved with and get paid well from (my only salary) have had 0 payment in 12 months yet rents etc still need paying on them
- Location
- East yorks
They still haven’t changed the rules so if the self employed makes up part of your income you cannot claim as I can see.
- Location
- West Wales
No I meant it was the income from those businesses that were set aside and i classes as “my drawings”, otherwise I wouldn’t give myself a penny except for food. Due to being a new self employed I couldn’t claim as no back data even though when I was employed all of the history was there showing it.
My mother in law after being employed for 35 years went SE December 19 running her own pub, doesn’t get anything in grants either
Cowabunga
Member
- Location
- Ceredigion,Wales
My wife isn't or certainly wasn't eligible because even though she's a partner in the business, she has a teacher's pension.
- Location
- East yorks
Dad just has a pension so he isn't eligible
From Martin Lewis.
"CONFIRMED: The SEIS 4 grant will calculate average trading profits over the FOUR tax years (was three before)
2016/17
2017/18
2018/19
2019/20
If less years it will use similar methodology to before."
"Chancellor said SEISS 5 grant will be 80%-of-profits if turnover dropped 30%+ but only 30%-of-profits if dropped less.
CONFIRMED: The drop will be based on a fin impact test of profits Apr 20 to Apr 21 compared to pre-pandemic.
Don't yet know how they'll check."
"CONFIRMED: The SEIS 4 grant will calculate average trading profits over the FOUR tax years (was three before)
2016/17
2017/18
2018/19
2019/20
If less years it will use similar methodology to before."
"Chancellor said SEISS 5 grant will be 80%-of-profits if turnover dropped 30%+ but only 30%-of-profits if dropped less.
CONFIRMED: The drop will be based on a fin impact test of profits Apr 20 to Apr 21 compared to pre-pandemic.
Don't yet know how they'll check."
- Location
- South Wales UK
Nice NEW BOXES on this year's Tax Return Forms for it !
ridger
Member
- Location
- Tyrone, Northern Ireland
Oh dear, the eat out to help out is even there
Yep our accountant told us they were already watching for incorrect claims and chasing for the money, so let’s hope they didn’t spend it all. For those that fall foul of the claw back, if your accounts don’t show a reduction in income from lockdowns and you have made claims, claw backs are likely.
We were advised not to claim it, unless we could demonstrate our loss of income.
I am sure if it was claimed wrongly by someone, but paid back it will blow over.
SilliamWhale
Member
I don't think the question was a loss of income compared to the year before it was a loss of income due to trading conditions or if covid adversely affects you/ shuts you down.
Last edited:
Loss of income, is not a reduction of income, it’s a loss of income
The definition is.
Loss of income refers to the situation in which a person's source of money for expenses or lifestyle, such as salary from a job or income from a business, is terminated.
That is not a situation where your likely going to see an increase year on year in your income while claiming COVID relief grants. . . Now if the wording is different for the grants then ok, but I don’t think they expected your income to grow while claiming grants, while if you can prove your case of loss of income you will have no problem, but if your showing a larger profit than normal that’s going to be a red flag where they may ask for that proof.
our accountant said unless you deal with the public in the form of a shop or other business that was forced to close due to lock downs, your case for claiming the grant was very slim.
Now if your a self employed builder on the side then you have a case, your dealing with the public entering there homes etc, farmers with second income jobs would be free to claim if that second income job was effected due to lock downs or rules. Where your income stopped or reduced due to your ability to do those jobs were reduced.
what aspect of a normal farmings income was disrupted by COVID?
Not much. . . it would only be a non farming side line or second income, like a holiday cottage, leisure business, or part time job. Now they are easy to prove, if we know they were locked down and income from them would have dropped due to lockdowns. An Easy case to make.
Bossfarmer
Member
- Location
- between Perth and Inverness
i bought a tractor that tax year will that help the situation?
- Location
- Scottish Highlands
I can think of plenty. My ability to utilise abattoirs was curtailed (they were shut from staff illness) so direct sales to public were much less; my access to vet care was more tricky and gave extra costs (maintaining social distancing meant everything took longer); my main customer base (direct hotel sales) became impossible as the hotels were shut; the ability to buy fresh stock at market became much harder (online sales rather than in person mart visits); seasonal use of senior family members wasn’t possible (self shielding) so more had to be contracted out. And I’m not a large farmer by any stretch.
Bossfarmer
Member
- Location
- between Perth and Inverness
malting barley demand dropped like a stone at harvest last year due to covid, but wheat more than made up for it plus up in scotland we all got convergence payments meaning my profits are up BUT i made less than i should have because of the malting barley, i should have made an extra £30,000, so yes covid cost me a lot of mone, the fact my profits are higher than the previous year should be irrelevant
- Location
- North of Perth
Exactly this [emoji121] .just because we made money last year doesn't mean we weren't affected by it.if you qualified for the grant you'd of been daft not to take it.
Had the bank manager wanting to meet with us a month ago.thinking they were wanting it back.quite the opposite just wanted to know how we wanted to pay it back.
d williams
Member
Do you mean loan ??
Grant doesn’t need paying back as long as you qualified for the grant
SilliamWhale
Member
To be fair I did have my holiday let hat on when I was talking about loss of income, so I probably agree with you. I couldn't really make a claim with my farmers hat on.
That said if a tax return is made up of a combination of holiday let income and farm income further blurring the lines.