personal finance

Taxable grant: What is a taxable grant?


How much will I get with a taxable grant?

The Gov.uk website says your taxable grant will be 80% of the average profits from the tax years (where applicable):
2016 to 2017
2017 to 2018
2018 to 2019

HMRC will add together the total trading profit for the 3 tax years (where applicable) then divide by 3 (where applicable to work out the average.

They will use this to calculate a monthly amount.

It will be up to a maximum of £2,500 per month for 3 months.

The government will pay the grant directly into your bank account in one instalment.



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