Coronavirus Job Retention Scheme (CJRS) Archives

Mar 13 2022

Declare Your COVID-19 Grants

By admin C.I.S., Coronavirus Job Retention Scheme (CJRS), Corporation Tax, Covid-19, Grants, HMRC, Potts & Co Accountancy & Business Advice News

The Covid-19 support grants (CJRS, SEISS and Eat Out to Help Out) are taxable and should be declared on your business' tax return. For corporation tax (CT) you must report amounts received in the accounting period covered by the return, not grants claimed for the period and paid in a…

Dec 20 2021

Correcting Furlough Grants

By admin Coronavirus Job Retention Scheme (CJRS), Covid-19, Grants, HMRC, Potts & Co Accountancy & Business Advice News

HMRC are now actively pursuing incorrect and fraudulent grant claims made under the Coronavirus Job Retention Scheme (CJRS) for wages of furloughed employees. There are four common causes of incorrect CJRS claims: • the employer used the wrong reference pay to calculate the claim; • the amount claimed was not…

Sep 09 2021

How To Get An Income Tax Refund From Losses

By admin Coronavirus Job Retention Scheme (CJRS), Covid-19, HMRC, Potts & Co Accountancy & Business Advice News, Property, Self-Employed Income Support Scheme (SEISS)

Many businesses have made large losses in the tax year 2020 -21 which have eclipsed the profits made in the previous year and even the year before that. Those pandemic trading losses can be used to generate a tax refund by setting them against profits made from the same trade…

Dec 11 2020

Furlough Extended

By admin Coronavirus Job Retention Scheme (CJRS), Covid-19, HMRC, Potts & Co Accountancy & Business Advice News

The coronavirus job retention scheme (CJRS) has been extended from 1 November 2020 to 31 March 2021. For the first three months, employers can reclaim 80% of their employees' 'reference pay' for the time they are not working, although they must pay all of the employer's national insurance contributions (NIC)…

Sep 09 2020

Job Retention Bonus

By admin Coronavirus Job Retention Scheme (CJRS), Covid-19, HMRC, Potts & Co Accountancy & Business Advice News

To encourage employers to keep as many employees on the payroll as possible into 2021 the Government has promised to pay a job retention bonus to employers of £1,000 per employee. We do not know the full details of this scheme yet but to qualify for the bonus the employee…

Coronavirus Job Retention Scheme (CJRS)

Declare Your COVID-19 Grants

Correcting Furlough Grants

How To Get An Income Tax Refund From Losses

Furlough Extended

Job Retention Bonus

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