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Support payments relating to self-isolation due to coronavirus are taxable and taxpayers must include them in their tax return.
In new guidance, HMRC explains that employees should show the amount in the ‘other benefits (including interest-free and low interest loans)’ box of the ‘benefits from your employment’ section in the employment supplementary pages. Individuals should also report the payments this way if they are both employed and self-employed, or employed and a partner in a trading partnership.
For self-employed individuals or partners in a trading partnership, the payments must be included in the calculation of profits for the relevant tax year. The payments are exempt from National Insurance.
