Intention of continue trading self employed scheme

Intention of continue trading self employed scheme

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   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? 

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By SXGuy
17th May 2020 08:37

It's whether you "intend" to continue to trade. Not whether you actually do or don't.

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Replying to SXGuy:
RLI
By lionofludesch
17th May 2020 08:54

SXGuy wrote:

It's whether you "intend" to continue to trade. Not whether you actually do or don't.

I agree.

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By Cheshire
17th May 2020 09:18

Mihaela Enea wrote:

   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?

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Replying to Cheshire:
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By Selfemployed
17th May 2020 10:04

I am doing visiting care. Since Coronavirus, everyone wants live in caring, which I cannot do. All visiting care hours dropped. Hence, my loss of income and conundrum.

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Replying to Cheshire:
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By Selfemployed
17th May 2020 10:35

People ceased private, self employed visiting care hours, when Coronavirus exploded. There's a demand for live in carers, which I cannot do . If I take on employment as domiciliary carer ( visiting), that is employment. Hence, my conundrum, if the employment income will surpass my self employment income this year, if I take on employment.

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Replying to Selfemployed:
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By Wanderer
17th May 2020 11:19

Mihaela Enea wrote:

Hence, my conundrum, if the employment income will surpass my self employment income this year, if I take on employment.

Think you are worrying about this aspect too much. The self-employment v other income test is only relevant for past, not future, income.
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By Wanderer
17th May 2020 09:38

The regulations state:-

Rishi wrote:
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,

so if you can satisfy that (& of course the other criteria) at the time of the claim, you should be fine.
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Replying to Wanderer:
RLI
By lionofludesch
17th May 2020 10:13

Wanderer wrote:
Rishi wrote: Claims
3.2 A claim must be made by a qualifying person.

I'm not convinced Rishi writes this stuff himself.

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Replying to lionofludesch:
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By Wanderer
17th May 2020 10:31

He does sign it though.

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Replying to Wanderer:
the sea otter
By memyself-eye
17th May 2020 11:15

To quote from Pink Floyd:
"He signed it with his own rubber stamp"

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