If I take on employment in 2020-2021, without closing my self employment, yet, probably not trading, or trading less if employment will be full time....so, my Paye income would be higher than self employment , will HMRC ask for the grant back ??? Please help. ....This intention of continuing trading is odd, as if I don't find clients, but I find employment, ....I have to survive. Am eligible for the grant but am afraid to take it because I cannot predict the future. ... also, what if later on I find clients and I will have more income than last year ? In march, april and may I had less income , but by the end of year, who knowns?
Replies (10)
Please login or register to join the discussion.
It's whether you "intend" to continue to trade. Not whether you actually do or don't.
I agree.
If I take on employment in 2020-2021, without closing my self employment, yet, probably not trading, or trading less if employment will be full time....so, my Paye income would be higher than self employment , will HMRC ask for the grant back ??? Please help. ....This intention of continuing trading is odd, as if I don't find clients, but I find employment, ....I have to survive. Am eligible for the grant but am afraid to take it because I cannot predict the future. ... also, what if later on I find clients and I will have more income than last year ? In march, april and may I had less income , but by the end of year, who knowns?
Im sure you will 'find clients' as a carer, given there is already a shortage. Or are you suggesting that you have no intention of going back to it?
Think you are worrying about this aspect too much. The self-employment v other income test is only relevant for past, not future, income.Hence, my conundrum, if the employment income will surpass my self employment income this year, if I take on employment.
The regulations state:-
so if you can satisfy that (& of course the other criteria) at the time of the claim, you should be fine. Claims
3.2 A claim must be made by a qualifying person.Qualifying person
4.2
(d) intend to continue to carry on a trade in the tax year 2020-21,
Rishi wrote: Claims
3.2 A claim must be made by a qualifying person.
I'm not convinced Rishi writes this stuff himself.