We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Self assessment & SEISS
xkpa
Posts: 144 Forumite
in Cutting tax
Hi there.
Please excuse my question if it sounds silly/stupid, but i am very bad at accounting/tax stuff.
This year i was in a rush to file my self assessment tax return deadline and i used new accountant. Because of coronavirus I tried to claim Self Employed Income Support Scheme grant, just to find out that my accountant added some of my income as devidents and becuase of that my non-trading income is higher than my trading income, so i am not eligible for SEISS.
Is it possible to alter/change my SA302 tax return for 2018/2019 and move some of the devidents as my trading income, this way i would be eligible for SEISS?
Thank you very much in advance,
Stay Safe
Please excuse my question if it sounds silly/stupid, but i am very bad at accounting/tax stuff.
This year i was in a rush to file my self assessment tax return deadline and i used new accountant. Because of coronavirus I tried to claim Self Employed Income Support Scheme grant, just to find out that my accountant added some of my income as devidents and becuase of that my non-trading income is higher than my trading income, so i am not eligible for SEISS.
Is it possible to alter/change my SA302 tax return for 2018/2019 and move some of the devidents as my trading income, this way i would be eligible for SEISS?
Thank you very much in advance,
Stay Safe
0
Comments
-
You can amend your tax return but I'm afraid HMRC will not take that into account when it comes to working out SEISS eligibility.0
-
So was the income dividends or not? You can't just reclassify some income as something else to suit your purposes.0
-
xkpa said:Hi there.
Please excuse my question if it sounds silly/stupid, but i am very bad at accounting/tax stuff.
This year i was in a rush to file my self assessment tax return deadline and i used new accountant. Because of coronavirus I tried to claim Self Employed Income Support Scheme grant, just to find out that my accountant added some of my income as devidents and becuase of that my non-trading income is higher than my trading income, so i am not eligible for SEISS.
Is it possible to alter/change my SA302 tax return for 2018/2019 and move some of the devidents as my trading income, this way i would be eligible for SEISS?
Thank you very much in advance,
Stay Safe
The SEISS grant is for sole traders and partnerships, not for directors of limited companies.
If you have received dividends then it sounds like you the director of a limited company?"All shall be well, and all shall be well, and all manner of thing shall be well."
0 -
It staggers me the number of people on here who don't even know if they are the director of a limited company or self employed.It's actually quite impressive that these people manage to keep themselves in business to be honest.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.3K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.9K Spending & Discounts
- 248K Work, Benefits & Business
- 605.2K Mortgages, Homes & Bills
- 178.9K Life & Family
- 263K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards