Man and Wife self Emplyed Partnership - Who can claim support ?

TJTribute

Hi all,
My wife and myself are self-employed and our company is set up as a 'partnership'
We have averaged about £10,000 net profit for the last three years after all deductibles.

We pay all profit to my wife, as she can claim full tax allowances on the profits.
I don't take any profits or payments, as I have a pension of about £23,000 gross per annum.

Unfortunately, as we are working in the entertainment business, all of our contracts for this year have been cancelled due to premises closing and the ban on public gatherings, so our company income is zero.

My question is, will my wife and/or myself be eligible for payments of 80% of our net profits based on the Corona Virus Support Scheme?

I am concerned by the 'small print', which I understand states that Self-Employed income must be the greater part of overall income to qualify?

I wonder whether my wife will be considered as a separate individual, to receive the 80% payments, as she receives all profits, or will HMRC regard us as a married couple and take into account my pension, which would mean neither of us would qualify ?

Any steer on this would be much appreciated so we can plan ahead.
Thanks for your time and attention to this.

J_B

This section of the forum is for travel issues -  maybe look here ...

https://forums.moneysavingexpert.com/forumdisplay.php?f=27

Jeremy535897

You and your wife are regarded separately for the self employed grant. You will not qualify for anything as your other income clearly outweighs your profit share. If your wife's profit share exceeds her other taxable income, and she meets all the eligibility criteria, she should qualify. The detailed rules are at:
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme