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Add Accounting
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Add Accounting
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London Katılım Ekim 2014
39 Takip Edilen47 Takipçiler
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We are proud to announce that our firm is now Dext Pioneer Certified. #DextPioneer infl.tv/kgob
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Delivery of 20 New top of the range Electric TX’s due within the next 2 weeks. We are taking reservations from now. Reserve now to avoid disappointment.
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@i_am_morango @MartinSLewis The full guidance is not out yet so this might not be the case but the way it is written suggests the calculation is on the last 4 years average
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@addaccounting @MartinSLewis Thanks for responding. You say other years WONT be looked at, but then the grant will be likely calculated on previous 4 yrs if submitted? Totally unfair as HMRC already excluded us based on PAYE income being higher on previous years. Potentially minuscule trading profit 16-19.
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@MartinSLewis many still really confused on SEISS 4. If trading profits were below 50% 16/17, 17/18, 18/19, there4 excluding you from SEISS 1-3, but 19/20 return is above 50%, are you eligible on 19/20 income alone or will we be averaged on previous years that excluded us?
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@SueloBristol @Jo39934994 @MartinSLewis I don’t know why HMRC have not taken into account things like this for 19/20 as many will be in that position of reduced income but then their grants will be calculated on it.
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@addaccounting @Jo39934994 @MartinSLewis Many of us had a reduction in footfall, trade and profits in the last quarter of 2020 due to the 3 bad storms Jan-Feb, the reduction in footfall & trade in early March onwards due to Covid and losing the last few weeks Mar & early April to Ldown. Lower SEISS= the Govt. saves 💷.
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Thanks all for watching, we will be back next week with another #MartinLewis Money Show. MSE Eesha signing off.
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@RealRackCity @klgreen59 @itvMLshow Based on the current guidance your grant will be calculated over the two years you were self employment so both 18/19 and 19/20. This was how it was before but full guidance has not been released as yet.
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@addaccounting @klgreen59 @itvMLshow If 18-19 was first year of any self employment but excluded for 50/50 rule but then fully self employed for 19-20 would they only use those 2 years? Thanks
Shaftesbury, England 🇬🇧 English
Got a question for the Chancellor? #MartinAndRishi
Get involved below and let us know what #Budget2021 means for you! #MartinLewis
Martin Lewis@MartinSLewis
Important #BUDGET21 special @itvmlshow 8:30pm tmrw (Thur) -I'm interviewing Chancellor. Got a Q you want me to ask send a single tweet reply, using #MartinAndRishi & pls incl why its relevant to you -Got a practical money Q for me, pls tweet reply using #MartinLewis Pls share
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@Michael74933029 @MartinSLewis @GMB Yes you should qualify as HMRC will first look at your 19/20 tax return but the grant is likely to be based on the self employment income averages over your tax returns in the last 4 years
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@MartinSLewis @GMB I'm one of excluded on previous seiss grants as my earnings 60% employed and 40% self employed
But on 19/20 return it changes to 30% from employed and 70% self employed will i now qualify for seiss 4
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If you have financial questions about the Coronavirus, I'm doing an Ask Martin on @GMB tomorrow after 8am so tweet your questions in reply and I will do my best to answer them.
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@klgreen59 @itvMLshow HMRC will look at your 19/20 tax return first and as you have self employment only then you will be eligible but they will use your average self employment income over the last 4 tax returns if applicable to calculate the grant
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@addaccounting @itvMLshow So if I earned more in PAYE in 18/19 would I be entitled to SEISS 4? did 19/20 tax return for a full year of Self Employment only
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@hill_hypno Eligibility will start with the 19/20 tax return so you should be fine. The grant will then be based on average self employed income based on the last 4 years tax returns
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@tedlasso_london HMRC will asses eligibility based on the 19/20 tax return so if it has not been submitted before 2nd March then based on the guidance so far you might not be eligible as HMRC don’t know if you even traded in 19/20 or anything. The full guidance has not been published yet.
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@addaccounting Hello. I did my 2016-2017, 2017-2018, 2018-2019 tax returns on time and was eligible for first three grants and however i wasnt able to do my tax return for 2019-2020 because of the lockdown, i couldnt go to my accountant. Am i still eligible to take 4th grant on three tax years?
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The 4th self employment grant will first based on your 19/20 tax return to see if you are eligible and then if not look at prior years. Averages will also now include 19/20. More guidance to follow. #SEISS #Grant #selfemployed #support
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@klgreen59 @itvMLshow They will start with 19/20 for eligibility and if eligible then HMRC will work out average income over 4 years if applicable, if not eligible based on 19/20 then they will look at previous tax years too to check eligibility
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@AshDMcarp @itvMLshow @MartinSLewis If you are eligible based on 19/20 then you should be fine and HMRC won’t look at prior years. The calculations for the actual grant will be based on 4 years average income
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@KerryWills5 @MartinSLewis Sorry it’s not the news you wanted, further guidance will be published which might change things. Hopefully your 19/20 numbers make you eligible.
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@addaccounting @MartinSLewis Thanks! So they will basically be using the figures that they previously used to exclude us 😔
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Just a thank you, for so many questions that #MartinAndRishi is currently the 7th biggest trending topic on twitter.
Clearly I can't ask em all, but I'm focusing on the most common topics, & taking representative questions from them - it'll all depend on how many I can get in
Martin Lewis@MartinSLewis
Important #BUDGET21 special @itvmlshow 8:30pm tmrw (Thur) -I'm interviewing Chancellor. Got a Q you want me to ask send a single tweet reply, using #MartinAndRishi & pls incl why its relevant to you -Got a practical money Q for me, pls tweet reply using #MartinLewis Pls share
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@addaccounting @MartinSLewis And this is where the 50% rule will come back to bite us all again! 😔
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@KerryWills5 @MartinSLewis The way we see it is that if you are not eligible based on your 19/20 tax return then they will go back and look at previous 3 years for eligibility. If eligible based on 19/20 tax return then they will use the average of 4 years if applicable to work out a average income.
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@addaccounting @MartinSLewis So do you think it's a typo and they ment to say "if you are eligible" rather than "if you aren't eligible"?
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