Scottish Wedding Industry Fund

[Vectis]

Grant funding available if you are QUICK....
https://findbusinesssupport.gov.scot...-industry-fund

(just in case you've not seen it).

Good for sole traders / small businesses earning majority of income from supplying services to the wedding sector in a range of disciplines including DJing.

[ppentertainments]

Grant funding available if you are QUICK....
https://findbusinesssupport.gov.scot...-industry-fund

(just in case you've not seen it).

Good for sole traders / small businesses earning majority of income from supplying services to the wedding sector in a range of disciplines including DJing.

Personally I can't see it coming too much - will be a bit like the Arts fund that quickly disappeared.
Certainly think for small businesses/sole traders there won't be much help - how many DJs will suddenly be Wedding DJs, Photographers suddenly Wedding Photographers etc etc.

They would have to look at each individual business separately which I can't see and how do you prove you do gain a majority of income from weddings, and how do those who don't get found out ?

[Vectis]

If you read the detail there's a random audit involved, so you takes your chances...

Those who legitimately fit the criteria should have no concerns about applying.

[rth_discos]

They would have to look at each individual business separately which I can't see and how do you prove you do gain a majority of income from weddings, and how do those who don't get found out ?

They ask for a copy of a previous tax return. It's very quick to see on a tax return where your income and profit comes from.

[DJ Jules]

They ask for a copy of a previous tax return. It's very quick to see on a tax return where your income and profit comes from.

Except it isn't. If you earn under a threshold (and from memory it's quite a large threshold) you just file a summary return.

Mine says I took £x, spent £x and my profit is £x and that is about all it says. It doesn't say anything about where that income came from or even break down capital purchases from everyday expenses.

[rth_discos]

Except it isn't. If you earn under a threshold (and from memory it's quite a large threshold) you just file a summary return.

Mine says I took £x, spent £x and my profit is £x and that is about all it says. It doesn't say anything about where that income came from or even break down capital purchases from everyday expenses.

Even as a summary tax return, capital purchases are still separated from everyday expenses. Any investment (eg equipment) should be listed and claimed as capital allowance, using the annual investment allowance if you want to apply 100% of the cost towards your tax return rather than through depreciation over a number of years.

I actually split my self assessment into two 'self employments' - one is my wedding dj business and the other is my web design business. I did it more than anything to see what profit I was make on each aspect.

But it quickly highlights who is a part timer (more income from PAYE) and who is truly self employed. Not a perfect system, but won't let too many slip through.

[ppentertainments]

Even as a summary tax return, capital purchases are still separated from everyday expenses. Any investment (eg equipment) should be listed and claimed as capital allowance, using the annual investment allowance if you want to apply 100% of the cost towards your tax return rather than through depreciation over a number of years.

I actually split my self assessment into two 'self employments' - one is my wedding dj business and the other is my web design business. I did it more than anything to see what profit I was make on each aspect.

But it quickly highlights who is a part timer (more income from PAYE) and who is truly self employed. Not a perfect system, but won't let too many slip through.

But how will it differentiate a wedding DJ v a Pub DJ v a party DJ etc ?

[Vectis]

Anyone applying for the grant agrees the Ts and Cs which include a possible future audit.

My guess would be that the auditor would not be satisfied with simplified accounts and would call for additional evidence, such as invoices and matching evidence of payment, to prove the eligibility, and if irregularities were uncovered then at the very least they would demand repayment, if not referral as fraud.

So really it's down to the applicant.

The purpose of the thread was to flag the availability of the scheme to anyone who might be eligible but missed the launch in the news.

[rth_discos]

Anyone applying for the grant agrees the Ts and Cs which include a possible future audit.

My guess would be that the auditor would not be satisfied with simplified accounts and would call for additional evidence, such as invoices and matching evidence of payment, to prove the eligibility, and if irregularities were uncovered then at the very least they would demand repayment, if not referral as fraud.

I saw a good argument that the criteria for the 'excluded' should be made far simpler for them to get financial support. It was suggested that the cost of fraudulent claims would 'cost' less than the impact of the excluded not receiving any financial support long term anyway.

In many cases, the cost of trying to avoid fraud often costs more than just allowing the fraud to happen.

So whilst I don't condone it, having a simple application makes it much easier to get the money out quickly to those who need it.

[Jennie098]

The wedding and civil partnerships industry has been significantly impacted as a result of the covid-19 pandemic. [link removed] - we were lucky to celebrate our wedding before the coronavirus pandemic begin.