Upcoming COVID-19 support scheme deadlines

Oct 12, 2020

A number of important deadlines are approaching in the context of the various COVID-19 support schemes.

  • Businesses must notify HMRC if they have overclaimed a coronavirus job retention scheme (“CJRS”) or self-employed income support scheme (“SEISS”) grant. This must be done within 90 days of Royal Assent to Finance Act 2020 or 90 days of receipt of the grant, whichever is the later.

90 days from Royal Assent to Finance Act 2020 is next Tuesday 20 October 2020. This means the deadline for notifying many overclaimed CJRS/SEISS grants falls on this date.

For CJRS grants where the employer ceased to be entitled to retain the payment, the notification deadline is the later of 90 days after ceasing to be entitled to the grant or the two dates mentioned above.

Failure to notify HMRC of an overpaid grant may result in the imposition of interest and a penalty as well as repaying the excess CJRS grant. Amounts still due to HMRC will then be recovered through a special income tax charge on the employer.

Employers can let HMRC know above overclaims as part of their next online claim. If an employer claimed too much but does not plan to submit further claims, you can let HMRC know and make a repayment online through a new online card payment service.