You may be asked to provide documents confirming your self-employment, farming or rental income.

The following may be requested:

• Revenue’s Indicative Calculation on which you based your self-assessment; and
• A full set of trading accounts for 12 months ending in the year 2023, for each trade, farming or rental income listed under Schedule D on  Revenue’s Indicative Calculation, to include the following:

Trading Profit and Loss Account

Capital Account

Balance Sheet

Adjusted Profit Computation

Form 11 

If your income is low, you may not be required to keep a capital account and balance sheet. In this case you only need to provide a Profit and Loss / Income and Expenditure Account and Revenue’s Indicative Calculation.

Please note if your Revenue’s Indicative Calculation states a ’0’  trade income figure, we may still require a copy of your trading accounts for verification purposes.

Farming Stock Relief

Any income tax adjustment for farm stock relief is disregarded.

Farming Income Averaging

Revenue allow farming accounts to be averaged over a five-year period. However SUSI only considers the income earned in 2023. Therefore, we require accounts for 12 months ending in the year 2023.

In calculating the reckonable income from self-employment, farming or rental, SUSI uses the net profit or net loss as taken from the profit and loss account.

Certain deductions which are allowed by Revenue are not allowed for grant assessment purposes.  These deductions are added back to the net profit or loss and include the following:

• Depreciation
• Interest on borrowing which funds the fixed assets of the business or the personal expenditure of the proprietor; and
• Finance lease payments;
• Remuneration in respect of;

Wages or payments made without applying the PAYE and PRSI regulations, or equivalent regulations (casual wages);

Wages or payments to dependent children;

Wages or payments to non-dependent children where the payment is above the norm for work undertaken; and

• Personal expenditure charges against the business income.

An example of personal expenditure would be personal use on motor expenses, light and heat and telephone.

If you cease trading, you may request for your application to be assessed/reassessed under a change in circumstances.

Evidence in the form of confirmation from Revenue that the business has ceased trading or has been de-registered for VAT may be requested.

Only cessation of trading can be considered a change of circumstances as the nature of self-employment, farming and rental income is variable and a reduction in such is not considered a permanent change.