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Calculate the VAT paid or payable.
Calculate the standard rated VAT that has been paid or will be paid on amounts entered.
The amount being considered for VAT.
Note: These calculations are only for illustrative purposes and are not a substitute for professional advice.
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On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm.
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.