Many companies receive grants for all sorts of different things, for example when a company wants to expand and set up in a deprived area, the company may receive a grant from the government to
Ben Heald founded AccountingWEB in 1997 in his online guise as “The Prudent Surfer”.
Good morning all,
Just a quick question.
My partner is receiving a pension lump sum in the tax year 11-12. I understand this is tax exempt.
We are a small business in Cardiff and have recently won a Technology Strategy Board grant (£160k over 3 years).
I have a client who is now a practising medical doctor and I have to complete a tax return for an earlier year in which he was finishing his training in a hospital.
If you receive a grant for funding a business, is this treated for tax any differently or just as capital?
has anyone got any links on this subject?