HMRC add new COVID section to Corporation Tax Return

The new Coronavirus Support Schemes section is a way for HMRC to collect overpayments.

New COVID section added to Corporation Tax returns

If you operate a Limited Company, then you have to be aware of this important update regarding changes to this year’s Coporation Tax return.

As if you haven’t heard the word Coronavirus enough this year, HMRC have given it it’s very own section in the Corporation Tax return.

Sneaking in quietly, the new section on page 5 of the ‘new’ CT600, is a way for HMRC to collect overpayments. This will be important if you made use of the Coronavirus Job Retention Scheme and, for those in hospitality – also the Eat Out To Help Out scheme.

Here is an overview of the details that you will need to provide:

  • CJRS & JSS Received – (Coronavirus Job Retention Scheme and Job Support Scheme aka. Furlough)
  • CJRS & JSS Entitlement – (so HMRC can confirm if there has been an overpayment)
  • CJRS & JSS Overpayment already assessed or voluntary disclosed
  • JRB & EOTHO Overpayments – (Job Retention Bonus (currently withdrawn) and Eat Out To Help Out)

We understand that this might be confusing, particularly after the events of the past year or so, but as usual we have to stress how important it is to provide HMRC with accurate information to avoid penalties.

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