The Lemon Fool

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).

Blind leading the blind?

Wait until the details are published.

Arb.

It's specifically tax returns from 2016-17, 2017-18 and 2018-19

So the cash-in-hand plumber/roofer etc may now regret it

mike wrote:So the cash-in-hand plumber/roofer etc may now regret it

So too the art of claiming business expenses!

Arborbridge wrote:Blind leading the blind?

Wait until the details are published.

Such as here?:

https://www.gov.uk/guidance/claim-a-gra ... ort-scheme

No doubt not yet in full detail.

mike wrote:So the cash-in-hand plumber/roofer etc may now regret it

Which is fair. They opted to not (or only partially) contribute to the collective so should reasonably anticipate that being reciprocated.

DAK whether this 'grant' is repayable at some stage or can business expenses be claimed against it?

DAK whether this 'grant' is repayable at some stage or can business expenses be claimed against it?

It's not repayable, it is taxable. Basically just treated as income to be disclosed on your 20/21 tax return.