Post by keitha on Feb 1, 2021 10:49:14 GMT
Just spoken to a friend of mine who is about to be Audited by HMRC.
Apparently when he applied for his Self employed Grants ( SEIS for covid) he told then his expected profit was £35,000 for 19-20.
He's done his tax return and declared £8,500, so the tax man has decided to investigate.
My guess is his true figure is between the 2, and that he exaggerated his earnings to get a bigger grant.
As an aside for anyone who has had a grant this does of course need to be included on next years Tax return
Apparently when he applied for his Self employed Grants ( SEIS for covid) he told then his expected profit was £35,000 for 19-20.
He's done his tax return and declared £8,500, so the tax man has decided to investigate.
My guess is his true figure is between the 2, and that he exaggerated his earnings to get a bigger grant.
As an aside for anyone who has had a grant this does of course need to be included on next years Tax return
