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Tax paid on Seiss grants

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Tax paid on Seiss grants

2 replies 144 views
charliechizcharliechiz Forumite
8 posts
First Post
Hey all :) that time of the year again. 

I'm not sure if this is posted anywhere else, sorry if it is. 

I'm trying to work out my return I've submitted my figures and such just waiting now.

I was wondering, does the self assessment tax return automatically reduce to pay the tax due from seiss grants or would I need to pay the tax after receiving my return? 

Also does anyone know if I can claim back on the tax paid for the grants and if so is this automatically worked out aswell? 

Thanks in advance. Happy tax days 😌

Replies

  • Jeremy535897Jeremy535897 Forumite
    7.1K posts
    1,000 Posts First Anniversary Name Dropper
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    The grants need to be disclosed in the specific box on SA103. No tax has been deducted so your comment about claiming tax back makes no sense.
  • NearlyoldNearlyold Forumite
    1.7K posts
    Sixth Anniversary 1,000 Posts Combo Breaker
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    In terms of calculating your income tax liability the SEISS grant is simply treated as if it was part of your gross self employed income for the tax year in which you received it.
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