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  • Treatment of Grants and Compensation on S.A.

    Hi. I am a sole trader in the post office sector with a simple income calculation. I am registered for VAT on the flat rate 5% basis. I have received additional income payments and I am unsure if these are taxable or are they exempt from S.A. declaration because online research suggests these may be exempt as i have had post office losses in the Horizon scandal and the others are named Grants. Please can you clarify/correct my understanding? 13.7.2020 Interim Payment Stage 1 Compensation 25.8.2022 Interim Payment Stage 2 Compensation 8.4.2020 Business Rates Relief Grant-Covid 19 Local Authority discretionary grant 8.9.2020 Business Support Grant - Covid 19 Local Authority discretionary grant Many thanks for this discussion forum opportunity as i have taken the step to declare my own self assessment and need assurance to correctly self declare my S.A.