Business owners: Deadlines for COVID-19 financial support

There are two deadlines approaching: one for the Coronavirus Job Retention Scheme (CJRS) and the other for the Self-employment Income Support Scheme (SEISS) 

Self-employment Income Support Scheme (SEISS) 

Claims for the second SEISS grant must be made on or before 19 October 2020. See our blog on this topic for more details.

Overclaimed grants - CJRS and SEISS grants

HMRC must be notified there has been an overclaim on a CJRS or SEISS grant. This must be done within 90 days of Royal Assent being given to Finance Act 2020 (20 October) or within 90 days of receipt of the grant, whichever is the later.

For CJRS grants where the recipient ceases 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.

Deadline - claiming CJRS grants

The CJRS finishes on 31 October 2020 and all claims must be made by 30 November 2020. Businesses should note that our-weekly payrolls may need to be carefully planned to ensure they meet this deadline.

About the Author

Paul Newbold

Partner

After qualifying with KPMG where he gained significant audit experience, Paul joined Torgersens in 1991 and became the firm’s audit partner in 2000. Paul employs his broad range of financial skills to provide commercial and accounting advice to a range of owner-managed businesses in the independent retail, education and professional services sectors. He also has extensive experience dealing with charities, Registered Social Landlords and not-for-profit organisations and co-operatives.   Outside of work, Paul likes to visit Eastern France and South-West German and read novels by David Morrell, Michael Blake and Harper Lee. He also likes watching films, his favourite is The Shawshank Redemption.

To get in touch please e-mail paul.newbold@torgersens.com.