Company Tax Returns – Job Retention Scheme and Eat Out to Help Out
If you received a Coronavirus Job Retention Scheme (CJRS) grant or an Eat Out to Help Out payment, you will need to do both of the following:
- Include it as income when calculating your taxable profits in line with the relevant accounting standards.
- Report it separately on your Company Tax Return using the Coronavirus Job Retention Scheme and Eat Out to Help Out boxes.
You should record all other taxable COVID-19 payments as income when you calculate your taxable profits.
Please talk to us if you require our help in disclosing grants and other support to HMRC. See: Corporation Tax forms – GOV.UK (www.gov.uk)
Here at James Anderson we specialise in tax and can help you complete your business tax return in compliance with HMRCs regulations. If you think this is a service that your company would benefit from, please get in touch through our contact page, or give us a call on 0131 440 1373, we’d be happy to help!