Had a few health issues last year so I may be the last to realise this, but with the SEISS grants being taxable in 2020-21 isn't there a real problem for people with, say, 30 April 2020 year-ends which will show more or less a full, normal year's profits? Someone with annual profits close to £50k will be hit by HR tax, also possibly loss of Child Allowance. Apart from changing year-ends and claiming overlap (which might be peanuts, given that these are often long-established businesses), any other ideas?
18th Mar 2021
SEISS and non-5 April year-ends
Potential large tax bills for 2020-21 - have I got this right and is there a solution?
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