Small Business Grant Fund

Friday 24 April

The government has updated it’s guidance on the Small Business Grant Fund and Retail, Hospitality and Leisure Grant Fund regarding whether the grants will be subject to tax:

  • Grant income received by a business is taxable therefore the Small Business Grants, and Retail, Hospitality and Leisure Grants will be subject to tax.
  • Only businesses which make an overall profit once grant income is included will be subject to tax

More information can be found here:

https://www.gov.uk/government/publications/coronavirus-covid-19-guidance-on-business-support-grant-funding?utm_source=2eb1d26b-5c86-4f5d-8425-c3f100702ded&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate

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