95% of my clients are self employed and are going to see a substantial reduction in their turnover in the coming months. They vary from artists, to physchotherpists and a few other things in between. I would think that the majority of them would be below the radar of many of you but I hope you will be sympathetic towwards them.
The majority are artists, sculptors etc and their turnover will vary, often depending if they have a gallery show in one year. I am used to doing the artists' averaging calculations. My question is, should the government change the rules so that profits assessable in 2019/20 can be averaged with those assessable in 2020/21? An example of a client to whom this would be beneficial is a hairdresser who works only in care homes. She can no longer do this and her income has been reduced to Nil. in her case, this would be likely to eliminate her tax liability for 2019/20.
If you agree with my suggestion, what do you think could be done about it?
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Sue I would suggest you make representations to your professional body, they are in a much stronger lobbying position than you as one person.