What does HMRC mean when they ask has my business been adversely affected by coronavirus?

HMRC has provided some guidance here on the meaning of ‘adversely affected’.

HMRC advise your business could be adversely affected by coronavirus if, for example:

• you’re unable to work because you:
  • are shielding 
  • are self-isolating 
  • are on sick leave because of coronavirus 
  • have caring responsibilities because of coronavirus 
• you’ve had to scale down or temporarily stop trading because:
  • your supply chain has been interrupted 
  • you have fewer or no customers or clients 
  • your staff are unable to come in to work 

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For our latest COVID-19 news and guidance for your business, visit our dedicated Coronavirus Hub.
We will be updating it regularly as we continue to monitor and digest all the latest information

Date published 12 May 2020 | Last updated 12 May 2020

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.