The employer must demonstrate a revenue loss of at least 40% for a continuous 14-day period. This period needs to occur between 12 August and 10 September 2020, when compared to the closest comparable period last year.
Revenue means the total amount of money a business has earned from its normal business activities, before expenses are deducted.
For pre-revenue research and development start-up businesses, revenue also includes a drop in projected capital income when determining if you meet a 40% decrease in revenue.
Practically, we envisage that income will be calculated on the same basis as it was in the period against which the comparison is being made.