Self employed grant

[Andy78]

If one were to claim the second grant and then subsequently be asked for proof of business being affected, how would one prove it ?
Would year on year income comparisons be sufficient ?

 

[Baddegg]

If one were to claim the second grant and then subsequently be asked for proof of business being affected, how would one prove it ?
Would year on year income comparisons be sufficient ?

I’d imagine that’s the only way any self employed person could prove it, but it would only be earnings/profit for the period claimed for?

 

[Darkwood]

They work out your grant value by looking at your past 3yrs net profit divided by 12 or 52 then the grant is 3-months worth of net (up to a max £7500), if you are claiming then your net profit should have been adversely effected due to direct or indirect effects of corona lockdown, now one could argue that adversely could signal silly suggestions like you were £50 down over that 3 months period but one should take it in the context it is applied, the HMRC will not consider anything like that as a trigger to be eligible for the grant so if you apply for one or both and that simply accumulates on top of your yearly net profit which remains the same then you will have some questions to answer and they will claw back the grants as stipulated when you apply and sign for the grants.

In short, if your net profit substantially increases in correlation to grant money then you will have to demonstrate that at the time of lockdown you were affected adversely and hopefully you can show that the growth of business was done outside these lockdown measures hence you made legitimate claims.

 

[Baddegg]

I think most self employed could show quite easily that fewer and less amounts of money went through they bank account during the Covid period, and assuming the economy bounces back any uplift after that should be expected,