Can we apply for part of the seiss Grant ?

pateire

hi
ive been accepted for the grant, 
our normal monthly partnership drawings is £3000 
but we have been paying ourselves £2000, so a shortfall of
£1000 x 3 months = £3000, we dont need the £7500 based on the 80%
of the last 3 years
does anyone know, if we can specify when claiming the amount we need
thank you

whizzywoo

I don't think anyone knows yet until they can actually put in the claim.  Just a case of wait and see.

Jeremy535897

pateire said:

hi
ive been accepted for the grant, 
our normal monthly partnership drawings is £3000 
but we have been paying ourselves £2000, so a shortfall of
£1000 x 3 months = £3000, we dont need the £7500 based on the 80%
of the last 3 years
does anyone know, if we can specify when claiming the amount we need
thank you

Your question raises a number of issues.

I assume you are referring to a husband and wife partnership? Each partner will potentially be eligible for a grant of up to £7,500, but the amount payable will depend on your partnership shares of taxable trading income for the three years 2016/17, 2017/18 and 2018/19, assuming you have been in business that long.

Your drawings are irrelevant. At any time, the whole of the partnership assets less liabilities belong to the partners.

It will be all or nothing, so you have the following choices:

• neither of you claim anything
• both of you claim
• partner A claims and partner B does not
• partner B claims and partner A does not

If you don't want the full grant, you could donate it to charity. You will still be liable for tax on the full grant if you do that, but if you use Gift Aid you can reduce your tax liability.

Grumpy_chap

It is a grant - if you are entitled to it, why would you not want it all?

As @Jeremy535897 said, if you are fortunate enough not to need it all, charity donations is a good use for the money.

pateire

hi everyone 
@Jeremy535897  its just such a grey area, the goverment website states
 "Only make a claim if your business has been adversely affected by coronavirus"
is that just for the Mar-June period, who knows if our businesses will be affected by coronvirus,  6 or 12 month down the line

calcotti

pateire said:

hi everyone 
@Jeremy535897  its just such a grey area, the goverment website states
 "Only make a claim if your business has been adversely affected by coronavirus"
is that just for the Mar-June period, who knows if our businesses will be affected by coronvirus,  6 or 12 month down the line

It says “has been” - not “might be in the future”.

pateire

@calcotti thank you i didnt read it correctly
i would appreciate your thoughts about my question
the more help from fellow businesses who are applying for seiss
will help me to make a decision

Hermann

It is all or nothing.

In what way has your business been affected by Covid 19 to date?

Grumpy_chap

Martin just covered this on the telly.  If the business has been affected in any way, e.g. self-isolating, supply-chain, loss of custom, child care preventing you from working, shielding, etc. then the business has been affected.  You can declare that as the case and claim the grant.  It is a binary yes / no.

Jeremy535897

There is no materiality test either. A modest impact, but demonstrable, will suffice.
Are you operating as a husband and wife partnership?

pateire

hi
yes we are a husband and wife partnership selling on online sites ebay amazon etc
i was classed as shielded due to my medical condition, which meant we had to self isolate
which meant our delivery trips to the post office stopped
we closed all but one of our selling outlet hence the drop in sales
 or should i not claim the seiss and claim the bounce back loan
thanks for listening
although this is providing us a income, but not our normal i