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bigduckontax, Accountant
Category: UK Tax
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Please, can you help me to understand what Rishi Sunak just

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HelloPlease, can you help me to understand what Rishi Sunak just said about help for self-employed?
So he said: "
HMRC will use the average trading profits from tax returns in 2016-17, 2017-18 and 2018-19 to determine the size of the grant"
Please, what is this average trading profit? is this before tax taken or after tax? So for example if I had income from self employment around £2000 and income from employment around £17 000, then how much will I get? Please, can you see attached full calcuation?Also, my friend only started to work as self-employed last year in June 2019, is hes still elligible to get this support?Thank you

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

 

Before tax, you will receive say 1.6\k.

bigduckontax and other UK Tax Specialists are ready to help you
Customer: replied 3 days ago.
oh, great, thank you

Delighted to have been of assistance.

 

Thank you for your support.

Customer: replied 3 days ago.
sorry, also wanted to doublecheck with you. So is this profit before allowance as well?

Indeed.

Customer: replied 3 days ago.
yes, great, thank you

Pleased to have been able to help.