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Self Employment Grant scuppered
Terrier57
Posts: 1 Newbie
I cashed in a pension 3 years ago to help my business stay afloat and because my self employed income over the last 3 years, is less than than the pension payout, I don't qualify for the grant. I am classed as vulnerable so am being shielded and can't work, even if I could my industry is closed.
I guess if I was employed and being furloughed the pension payout wouldn't matter a jot.
I'm also in the age group that has to wait an extra 6 years to claim state pension.
Hacked off a tad today.
I guess if I was employed and being furloughed the pension payout wouldn't matter a jot.
I'm also in the age group that has to wait an extra 6 years to claim state pension.
Hacked off a tad today.
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Comments
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If you cashed in a pension three years ago, that fell into 2017/18? If you are concerned about the 50% test, you only have to meet it in either 2018/19, or the period 2016/17 to 2018/19.
From guidance:"Eligibility
If you have traded for all 3 years we will first look at your 2018 to 2019 Self Assessment tax return. Your trading profits must be no more than £50,000 and at least equal to your non-trading income.
If you’re not eligible based on the 2018 to 2019 Self Assessment tax return, we will then look at the tax years 2016 to 2017, 2017 to 2018, and 2018 to 2019."
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