There have been many different grants, schemes and tax-deferment options throughout the coronavirus pandemic. Whilst they have been vital to the economy and survival of UK businesses, the various start and end dates are quite confusing. Keeping track of timescales for grants, loans and tax deferment is also essential for good cash-flow planning. With this in mind, we have put together a list of important dates for your tax diary. Important Dates To Remember This blog will detail the key dates for your tax diary including when the rules change when claims must be submitted, and when payments of deferred […]
Monthly Archives: August 2020
Employers and self-employed people now have 90 days to repay coronavirus grants if they have been over-paid. HMRC have announced that they must be informed within a 90 day period if businesses have over-claimed furlough payments through the CJRS. Self-employed individuals have the same time-period to report any overpaid grants through SEISS. The excess payments must also be paid back or penalties will apply. CJRS Overpayments – Furlough Scheme A CJRS grant should be repaid to HMRC if the funds were not used to reimburse the employer’s costs related to furloughed employees within a reasonable period of time. The grant […]