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  • RE: Tax credits and Small Business Grant Relief

    Thank you. With regards Income tax, in what section of my tax return should I include the income from the grants received? Will there be a separate box in this years tax return for the grants issued by both the government and the council discretionary business grants? Or do we just add them all up and add them onto the gross income box? I ask as I am not sure if the discretionary business grants are classed as capital or income? Thank you
  • RE: Tax credits and Small Business Grant Relief

    Thank you so much for your reply. I have contacted tax credits and they said they do not know whether it is included as they have not come across this question before? They told me to contact the self assessment team who also said they do not know. What do I do for tax credits? I don’t want to give them incorrect figures and then it messes up next years tax credits. Thank you
  • Tax credits and Small Business Grant Relief

    Hello, I am on tax credits and this year received a Small Business Grant Relief (SBGR) I am filling in my tax return and have been told that this grant should be added as capital and disregarded. Is this so? Do I have have to notify tax credits of this grant as income? I am very confused. Thanks