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Current Year Income Confusion
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Okay, so I'm providing financial info for my daughter's application. I have my 2019/20 self assessment info and I just completed and submitted my 2020/21 self assessment. I've earned significantly less in 20/21 than I did in 19/20. I know I need to provide the 2019/20 income initially, but then, instead of asking for the 2020/21 figure or estimate, SFE says that I should estimate the *2021/22* figure. This makes no sense. What about the actual 2020/21 income. I have that as a reliable figure and would like to use that. It's like they've skipped a year. Please help me understand! Here's their info:
https://media.slc.co.uk/sfe/currenty...ome/index.html
https://media.slc.co.uk/sfe/currenty...ome/index.html
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They do skip a year. They want you to estimate your earnings in the year that your child will go to university. If your income is likely to be the same as last year's, then use that as an estimate.
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Thanks for the reply. So, then in year 2 do I use the 20/21 figure I just needlessly rushed to do today? Or does that figure just drop into a black hole? It seems like a verifiable 20/21 income figure would be much more relevant than a total guess of my 21/22 income. I'm self employed and my income can vary a lot.
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