How and when is the grant taxed? The finance Bill 2020 indicates that the grant is subject to tax and national insurance and should be taxed in 20/21 and not in 19/20. Is the grant taxed as a stand alone income receipt or included within the business accounts for the year. If the latter then how does this work with basis periods? A 5 April year end will be straightforward, but what about 30 April 20 year end - the receipt of the grant would fall to be taxable in the following year, although an element would presumably have been acrued in the April 20 year?