Do I have to pay taxes on the funds or money I receive from the government in the form of a grant?

Traditionally speaking you do not have to pay taxes on loans and grants. When you receive a loan from a bank, the government, or an individual this is not classified as income therefore you do not need to pay taxes on this funding. However some government funding programs may stipulate that you do have to pay taxes on the funding you receive. The only way to know for sure is to read the agreement contract carefully. If you need help figuring out which programs are right for your business try our Startup Assessment Tool or call us toll free at 020 3880 8554

There are hundreds of government funding schemes available for small business owners in the UK. In fact, our Funding Database currently has over 600 government funding schemes and over 500 private investors available for small business owners and startup entrepreneurs. What are you doing to take advantage of this? Become a member and start your search.

Take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at starting your small business. It just takes 30 seconds and will also tell you if there may be any funding assistance available.

Be sure to look at the hundreds of daily questions and answers we have from entrepreneurs like you who want to learn more about starting a business, creating a business plan, searching for funding. Our small business experts take the time to answer each and every single question, so if you have something on your mind – we can help!

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