I have a couple of SE clients who are in their first year of trading and these will not be included in the income support measures currently available. I am thinking, what are the chances of HMRC extending their measures to allow these to submit should the lockdown continue ?
The reason I ask is that I have noticed on HMRC site / tv announcements, that financial measures are initially for a 3 month period with the possibility of these extending, so is there a chance that income support measures will be opened up a little ?
Hi Julie
Government are making daily changes, but I think only the big hitters will get into the press. Couple released recently that didnt make it, as far as I know.
One place to watch www.businesssupport.gov.uk/%3Butm_content=biz-support-covid19-stakeholder-pr-270320&%3Butm_medium=referral&%3Butm_source=stakeholder&fbclid=IwAR1KUrNaH1yl0mGF5wl2LnTVBIg-qHVpii-K_W7DS_JIgPBWDl6vGOJj4og&utm_campaign=business_support_covid_2020
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I can understand the Chancellor's thoughts on this, if they allowed people to use their 19/20 figures to claim their 80% then it relies on clients not trying to artificially inflate their profits to get more money. It sucks for the newly self-employed though.
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All thoughts are my own and should not be used as professional advice.