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:
