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Treatment in accounts of Increased Cost of Business Grant.

ejmaztec · 2024-06-26 12:50:07

I can find no mention of how this is dealt with in the accounts of a business receiving the "generous handout", nor any clue as to whether it's taxable or not. Has anyone managed to find out?

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26-06-2024 1:50pm

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ejmaztec

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I can find no mention of how this is dealt with in the accounts of a business receiving the "generous handout", nor any clue as to whether it's taxable or not.
Has anyone managed to find out?

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#2 26-06-2024 4:20pm
SureYWouldntYa

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They will be taxable
The grants are intended to reduce a taxable expense (ie electricity and heating costs, rates costs etc.) so the income offsetting the increased expense will also be taxable
They can be accounted for under government grants received or similar rather than offset against the cost they are intended to replace

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