Too soon I realise to calculate with any accuracy, but would you think 'that past' three years means to the date of the self-assessment tax return for 2019?
Also, would the 80% be based on operating profit before tax or net profit before tax? (The difference in my case reflects interest on a loan).
Self-employed at 80% of average of past 3 years
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- Lemon Quarter
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- Lemon Half
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Re: Self-employed at 80% of average of past 3 years
Blind leading the blind?
Wait until the details are published.
Arb.
Wait until the details are published.
Arb.
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- 2 Lemon pips
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Re: Self-employed at 80% of average of past 3 years
It's specifically tax returns from 2016-17, 2017-18 and 2018-19
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- Lemon Slice
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Re: Self-employed at 80% of average of past 3 years
So the cash-in-hand plumber/roofer etc may now regret it
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- Lemon Quarter
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Re: Self-employed at 80% of average of past 3 years
So too the art of claiming business expenses!mike wrote:So the cash-in-hand plumber/roofer etc may now regret it
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- Lemon Half
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Re: Self-employed at 80% of average of past 3 years
Such as here?:Arborbridge wrote:Blind leading the blind?
Wait until the details are published.
https://www.gov.uk/guidance/claim-a-gra ... ort-scheme
No doubt not yet in full detail.
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- Lemon Quarter
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Re: Self-employed at 80% of average of past 3 years
Which is fair. They opted to not (or only partially) contribute to the collective so should reasonably anticipate that being reciprocated.mike wrote:So the cash-in-hand plumber/roofer etc may now regret it
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- Lemon Quarter
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Re: Self-employed at 80% of average of past 3 years
DAK whether this 'grant' is repayable at some stage or can business expenses be claimed against it?
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Re: Self-employed at 80% of average of past 3 years
It's not repayable, it is taxable. Basically just treated as income to be disclosed on your 20/21 tax return.DAK whether this 'grant' is repayable at some stage or can business expenses be claimed against it?