Hello everyone.
I just have a query about the business grant payment of £10000 which some self employed people are entitled to.
If one is successful, how is this payment accounted for? Is it taxable income? (If it is deposited in a business account I presume that it is used for allowable expenses but is this amount added on to total turnover?).
I’m just a little confused how to account for it on my 20-21 tax return..
Thanks in advance
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