| Coronavirus grants and payments to support businesses during the pandemic are taxable. |
| If you are a Limited Company and received any coronavirus support grants or payments, it is important to make sure you have the latest information so you can complete your Company Tax Return (CT600) accurately. |
| If you need to complete a Company Tax Return and have claimed Coronavirus Job Retention Scheme (CJRS) grants, Eat Out to Help Out (EOHO) payments, or any support payments made by local authorities and devolved administrations, you’ll need to report this as income when you or your adviser calculates your taxable profits. |
| If a Company Tax Return has already been filed, and coronavirus support grants or payments have not been declared as taxable income, an amended return will need to be submitted. |
| If someone completes your tax return on your behalf, you will need to confirm to them what coronavirus grants and payments you received. |
| How to report grants and payments |
| If you received a CJRS grant and/or an EOHO payment, this will also need to be reported separately in the specific boxes provided on the CT600. |
| Boxes 471, 472 and 647 will need to be completed with the relevant amounts for the accounting period covered by the return, and boxes 473, 474 and 526 will need to be completed if there were any CJRS or EOHO overpayments. |
| These boxes were added to the CT600 on 6 April 2021. If you received a CJRS grant, EOHO payment and your return was filed before 6 April 2021, or after that date but without completing the relevant boxes, your return will need to be amended. |
| If all coronavirus support overpayments were already repaid or have already been assessed before the tax return was filed – and there’s no coronavirus support schemes overpayment remaining due for payment – there’s no need to amend the return. More information on this is available in the Company Tax Return guide. |
| HMRC will also shortly start to run webinars on the taxability of coronavirus grants and payments for businesses and agents, and will send out more information in due course. |
Sapphire Business Services (Banbury) Ltd