I sell online and in my sector I have noticed a drop in sales.
Due to postal delays with standard post and customers complaining I have upgraded all my dispatches from standard 2nd class to signed for or courier.
This has eaten into my margins and sales have fallen as well. My business is still a profitable business although not as profitable as usual obviously.
I have been recomended applying for SEISS and on checking I would qualify according to the HMRC site.
However, although my profit is down and for all I know could fall further in the coming months, I am worried that the amount it is down is not as great as 3 months profits at 80%.
I would be receiving more SEISS than my profit is down by. Is that correct or have got the wrong end of the stick.
If I am correct is this something I sholdnt apply for?
This is what I've found online.." if you've genuinely been adversely affected by coronavirus and need financial support.
However, if you are struggling now and claim the grant, but later in the year your profits increase, the Government has confirmed the grant WON'T be "clawed back" by HMRC."
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You'll be grand.
You don't have to see your profits fall by the full 20% of average profits.
Quite a few clients have been asking this, there is no specific gauge in terms of numbers as to what constitutes being adversely affected, so even if your income has dropped lets say 10% you have been adversely affected.
Seems strange I know, but then lots of the other schemes have had peculiar outcomes for some - some good and some bad.
So provided in all good conscience you think you have been adversely affected - make that claim!