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Grants and Income tax.....
https://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=1&t=36463		 Page 1 of 1
Author:  wannabeeahack [ Mon Dec 21, 2020 12:56 pm ]
Post subject:  Grants and Income tax.....
We all know the SEISS grants (80% - 70% - 80% and maybe a 4th at 70%) count as income tpowards the 2020-21 tax returns (and it seems HMRC will have the extra page on returns) but...

What about these "ARG" grants?

£7500 here but says "taxable but not income, must be used towards business costs"


for some the SEISS + ARG will exceed the £12,000 personal tax allowances

*ARG = Additional Resources Grant (HMG gave councils £20 per head of population to dish out
Author:  edders23 [ Mon Dec 21, 2020 1:33 pm ]
Post subject:  Re: Grants and Income tax.....
All count as income and therefore must be included on the tax return according to the FSB

but not the BILS loans
Author:  wannabeeahack [ Mon Dec 21, 2020 6:07 pm ]
Post subject:  Re: Grants and Income tax.....
edders23 wrote:
All count as income and therefore must be included on the tax return according to the FSB

but not the BILS loans


Thats my interpretation too
Author:  wannabeeahack [ Mon Dec 21, 2020 6:11 pm ]
Post subject:  Re: Grants and Income tax.....
actual wording


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