{"id":934,"date":"2022-01-06T00:00:00","date_gmt":"2022-01-06T00:00:00","guid":{"rendered":"http:\/\/duffyregan.co.uk\/index.php\/2022\/01\/06\/dont-forget-to-declare-covid-19-grants\/"},"modified":"2022-01-06T00:00:00","modified_gmt":"2022-01-06T00:00:00","slug":"dont-forget-to-declare-covid-19-grants","status":"publish","type":"post","link":"http:\/\/duffyregan.co.uk\/index.php\/2022\/01\/06\/dont-forget-to-declare-covid-19-grants\/","title":{"rendered":"Don\\&#8217;t forget to declare COVID-19 grants"},"content":{"rendered":"<p>HMRC have issued the following guidance to taxpayers who may have received COVID-19 grants during the 2020-21 tax year.<\/p>\n<p>&ldquo;If you claimed Self-Employment Income Support Scheme (SEISS) or received Coronavirus Job Retention Scheme grants, you&rsquo;ll need to include details of all the taxable coronavirus support scheme payments you received during the 2020 to 2021 tax year.<\/p>\n<p>&ldquo;If you are employed and received Coronavirus Job Retention Scheme (furlough) payments during the 2020-21 tax year, you will need to enter your earnings and Income Tax as stated on your P60. Your P60 will include any furlough payments you received up to 5 April 2021, so you do not need to include furlough payments on your tax return.<\/p>\n<p>&ldquo;If you are self-employed or in a partnership and received any coronavirus financial support, you will need to declare it on your Self-Assessment tax return.&rdquo;<\/p>\n<p>&nbsp;<\/p>\n<p>SEISS grants you may have received during 2020-21 include:<\/p>\n<ul>\n<li>SEISS 1: 13 May 2020 to 13 July 2020<\/li>\n<li>SEISS 2: 17 August 2020 to 19 October 2020<\/li>\n<li>SEISS 3: 29 November 2020 to 29 January 2021<\/li>\n<\/ul>\n<p>Grants received after 5 April 2021 will need to be declared as taxable income in the current tax year, 2021-22.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Apart from the furlough and SEISS grants you will also need to declare grants received from the following support schemes:<\/strong><\/p>\n<p>You need to report grants and payments from COVID-19 support schemes. These include:<\/p>\n<ul>\n<li>test and trace or self-isolation payments in England, Scotland and Wales<\/li>\n<li>Eat Out to Help Out<\/li>\n<li>Coronavirus Statutory Sick Pay Rebate<\/li>\n<li>Coronavirus Business Support Grants<\/li>\n<\/ul>\n<h3>&nbsp;<\/h3>\n<p><strong>Coronavirus Business Support Grants<\/strong><\/p>\n<p>These are grants or payments made by one of the following:<\/p>\n<ul>\n<li>local authorities<\/li>\n<li>devolved administrations<\/li>\n<li>any other public authority<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>They are also known as local authority grants or business rate grants and in all cases are taxable.<\/p>\n<p>&nbsp;<\/p>\n<p>Examples of these grants in England include:<\/p>\n<ul>\n<li>Small Business Grant Fund<\/li>\n<li>Retail, Hospitality and Leisure Grant Fund<\/li>\n<li>Local Authority Discretionary Grant Fund<\/li>\n<li>Fisheries Response Fund<\/li>\n<\/ul>\n<p>Examples of these grants in Wales include:<\/p>\n<ul>\n<li>Welsh Government Business Grants (Grants 1 &amp; 2)<\/li>\n<li>Economic Resilience Fund<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Examples of these grants in Scotland include:<\/p>\n<ul>\n<li>Business Support Fund<\/li>\n<li>Newly Self-Employed Hardship Fund<\/li>\n<li>Creative, Tourism &amp; Hospitality Enterprises Hardship Fund<\/li>\n<li>Pivotal Enterprise Resilience Fund<\/li>\n<li>Aquaculture Hardship Fund<\/li>\n<li>Sea Fisheries Hardship Fund<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Examples of these grants in Northern Ireland include:<\/p>\n<ul>\n<li>Small Business Support Grant Scheme<\/li>\n<li>Retail, Hospitality, Tourism and Leisure Grant<\/li>\n<li>other business-related coronavirus emergency and hardship funds<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>If you need more advice regarding which grants need to be declared as income, please call. We can help.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>HMRC have issued the following guidance to taxpayers who may have received COVID-19 grants during the 2020-21 tax year. &ldquo;If you claimed Self-Employment Income Support Scheme (SEISS) or received Coronavirus Job Retention Scheme grants, you&rsquo;ll need to include details of all the taxable coronavirus support scheme payments you received during the 2020 to 2021 tax [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-934","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"_links":{"self":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=934"}],"version-history":[{"count":0,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/934\/revisions"}],"wp:attachment":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=934"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}