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Employee for part of year
Dear All
We have had a client who has been rejected by the SEISS scheme, because although she has been self-employed for last 2 years, her self-employed income is less than her income was when she was an employee in 2017.
Is that correct?
Thanks in advance
Michael
I’m assuming her self-employment began in the 17-18 tax year.
She would be entitled (subject to the other conditions being met) if either:
1. her 18-19 trading profits were no more than £50k and were at least 50% of her total income for the year, or
2. her trading profits from 17-18 and 18-19 together were no more than £100k, and were at least 50% of her total income over the two years.
Charles,
Many thanks for this!
Be of good cheer
Michael