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Self employment aid threshold for partnership

Is the £50,000 threshold per partner?

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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.

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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.

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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.

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