Self -Employed Grant Question

bluestraveler

What options are there for self-employed people who are losing money due to the virus, but with lost income that's less than the HMRC grants? It's an 'all  or nothing' option, and I can't afford to lose money, but don't want to take more than what I've lost, although with the nature of my business, I'll definitely continue to lose money for the rest of the year, so over the course of the financial year, my lost income will roughly equate with the grants?     

comeandgo

There are many self employed coming out of this with more money than they lost.   Remember you will pay tax and National Insurance on the grant but if you qualify for it go for it.

holly1991

I wouldn’t overthink it too much if you’ve lost trade because of covid 19 then you should be eligible and if work does pick up and you earn as much as you would of then you’ll be paying the grant back to HMRC in tax anyway 

Jeremy535897

@justwhat has posted various links that show it is not a problem if you get more in grant than you lose due to coronavirus.

[Deleted User]

If you’re eligible (as you’re clearly affected by Coronavirus) then do it as otherwise you will get very little support.