The Coronavirus Job Retention Scheme
The CJRS closed on 30 September, with the final deadline for claims being on 14 October.
What you need to do now as an employer:
- if you need to amend claims for September, you must do so by Thursday 28 October
- ensure you keep records for six years, in order to support the grants you claimed and in case we need to check them
- make sure you include grants as income on your company tax return, partnership tax return or the self-employment of your individual tax return for the tax year of you receipt, depending on your business type
- check any other Government support you’re eligible for by searching ‘Plan for Jobs’ on gov.uk
Reporting Coronavirus Grants on Your Tax Return
Grants to support businesses and self-employed people during the pandemic are taxable. If you claimed CJRS grants, or other COVID-19 grants, you need to include these as income on your tax return. Depending on your business type you’ll need to report this as income on your company tax return (CT600), partnership return (SA800) or the self-employment pages of your individual tax return (SA103).
How we can help you!
If you’re needing help with processing your CJRS; contact us today or check out our Facebook page for more finance news!
We provide accountancy, payroll and tax services to businesses or individuals in Leyland, Chorley, Buckshaw Village and the surrounding areas.
