Self Employed & also receive rental income

Brooksterr

Hi - I am self employed but also receive rental income from a property I rent out. The rent is 60% of my earnings and my self employed income is 40%. Am I entitled to the self employed coronavirus grant? I understand that you are only entitled to the grant if your self employed income is MORE THAN 50% of your total income - but does this include unearned income such as rent? 

Jeremy535897

Yes it does, so it looks like you won't qualify.

25_Years_On

I believe it does. As far as I can tell any taxable income counts.

25_Years_On

megw said:

@25_Years_On do you have a source for this? It doesn't seem like they have officially made a statement on this. Curious myself.

Many sites with information including the Government site don't seem to go into details. I found this information on a couple of reputable sites. This was one: https://www.ism.org/advice/covid-19-self-employment-income-support-scheme

Jeremy535897

megw said:

@25_Years_On do you have a source for this? It doesn't seem like they have officially made a statement on this. Curious myself.

You don't need a source other than the guidance, which says:

"Your self-employed trading profits must also be less than £50,000 and more than half of your income come from self-employment. This is determined by at least one of the following conditions being true:

• having trading profits/partnership trading profits in 2018-19 of less than £50,000 and these profits constitute more than half of your total taxable income
• having average trading profits in 2016-17, 2017-18, and 2018-19 of less than £50,000 and these profits constitute more than half of your average taxable income in the same period"

Total taxable income is all taxable income, including dividends, interest, employment, rental income and all sorts of other things, and self employed trading income. If the self employed trading income exceeds all the rest, you pass the test.