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KTW1972 Wharf

KTW1972 Wharf

Joined: 9/27/2022

  • SEISS Grant repay

    Tue, 27 Sep 2022 16:23:28 GMT – SEISS Grant repay
    I have a client whom upon preparation of her 2022 tax return, realised that she should not have claimed the 5th SEISS Grant. We have entered the grant in box " incorrectly claimed SEISS grant" - which adds the grant to her total liability However my question is surely we need to deduct the grant she is repaying from her taxable profit. Surely she won't be taxed on the grant she is voluntarily repaying? Any clarification would be most appreciated.