For self employed furlough do you need 50%+ traded income all 3 years, or the average of 3?

nannyto2

Is the total furlough amount a SE person receives calculated based on traded income only?

Does the calculation include the 80% from year 3? Or would that not be included as it is non-traded income?

Grumpy_chap

SEISS is based on trading profits only.

Jeremy535897

nannyto2 said:

e.g. If you have:

year 1 - 100% traded income

year 2 - 100% traded income

year 3 - 0% traded income, 100% non-traded income (business remained open, but they fell ill, and they rented a spare room for emergency income)

average of the 3 is 50%+ traded income.

Would that be eligible? Asking for a relative.

Going back to your original post, and assuming your relative traded in 2018/19 with nil profit (and the submitted SA return showed trading activity and was submitted by 23 April 2020), traded in 2019/20 and intended to continue to trade in 2020/21, and the business was adversely affected by coronavirus, the first grant will be based on total trading profits less trading losses if any for 2016/17, 2017/18 and 2018/19 divided by 36, multiplied by 3, multiplied by 80%.

unholyangel

I don't think we've been given enough info. 

For example, they were open for business 2019 - is that 18/19 or 19/20? If they are self employed and were so ill they couldn't work, in what capacity were they open for business (given they are the business)? Did they actually declare any self employed income or losses for the 18/19 year on their tax return (even if it results in nil profit)?

OP can you provide actual dates and specifics please? When did they become ill, did they stop work completely or did they have someone acting as an agent/attorney for him, when did they resume trading?