Share this content
2

Self employment aid threshold for partnership

Is the £50,000 threshold per partner?

Didn't find your answer?

Anticipating a lot of questions in the next day or so, so trying to get ahead of it.

If a non limited partnership of say 2 partners makes a profit of £90,000 (£45,000 each), do they qualify for the aid payments?

My gut says yes, but it isn't clear.

Replies (2)

Please login or register to join the discussion.

avatar
By MJShone
26th Mar 2020 17:36

It's bound to be on an individual basis ie what's on the individual partners' tax returns.

Thanks (0)
avatar
By mad_dwarfer
26th Mar 2020 17:41

I strongly suspect both partners would qualify for the aid payments in this case. As the government are using people's self-assessment tax returns to determine who's eligible, each partner's individual average profits over the past 3 years should be used.

However, it's not clear if the grant will provide 80% of the average monthly profits each month or just 80% of the difference between actual monthly profits and the 3-year average. I imagine the latter is most likely.

Thanks (0)
Share this content

Related posts