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Can you pay back self assessment grant?

Client has received October grant claim, but business is steadily increasing.

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Client is Self Employed and recieved the October grant claim. Business is currently busy at the moment, but he is unsure if this is a single peak or if his business will continue to grow in future months. If business continues at this pace, can he pay back the grant?

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By NYB
23rd Sep 2020 10:44

Can you see HMRC refusing some money back!

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By Spaceraiders
23rd Sep 2020 14:26

Thats true!

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Caroline
By accountantccole
23rd Sep 2020 11:45

If profits are lower than they would have been, had covid not happened, would he still be entitled to it. My understanding was that business had to have been detrimentally affected to make the claim, no reference to whether they are simply busy. Just make sure they are able to justify why the claim was made if they want to try and keep it

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By Paul Crowley
23rd Sep 2020 14:04

Yes.
Do some research on 'Adversely affected'
Discussed here absolutely to death
See Aweb videos on same subject

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