HMRC extends tax self-assessment deadline by a month to 28 February

[AtW]

In current ongoing world wide disaster people/companies who are eligible should obviously take it because feck knows if it will still be on offer later and nobody knows when this tulip will end.

It’s a no brainer with just one possible exception - a small minority that is competent enough to prepare for such disasters before that happened and for whom that “grant” money isn’t material, so not worth taking it and losing great opportunity to have a nice high horsey.

HTH

[vetran]

My understanding of the self employed grants is it is treated as income and if after expenses you make a profit you will be taxed on that.

The small business loans are a different matter.

They missed the obvious trick of capping the turnover at the average of last x years and then reclaiming the grant if you exceeded that.

[d000hg]

Had a call from my bank manager last week.

She was telling me that she is talking to people, especially self-employed who haven't had any income since last March and are close to having a breakdown. The government schemes are odious, interest rates too high and introducing IR35 mid-pandemic is unusually cruel.

Almost all the taxation deferrals schemes seem to have a sting in the tail that makes me think they want all small enterprise gone.

I don't think the 0% bounce-back loan interest is too high. IR35 was not introduced mid-pandemic, and doesn't affect the self-employed anyway.

[RasputinDude]

Anyone want to make a wager on whether my new accountant will wave the 50 quid surcharge that they want to charge me for completing their questionnaire (which I still can't access) in January now that we have extra time?