HMRC have updated their CT600 guidance to cover the declaration requirements for Coronavirus Job Retention Scheme (CJRS) payments for companies and advised that this will require tracking on both the accruals and cash basis.

CJRS payments accruing in the accounting period will be included in the accounting profit for the period as you would expect under UK GAAP, but a further declaration is required on the CT600 return for payments received, payments the company is entitled to and overpayments already assessed or voluntarily disclosed.

CJRS received

Payments received during the accounting period of the return need to be declared.

The figure included on the return should not include deductions for:

The figure should be adjusted to add back:

CJRS entitlement

CJRS overpayments already assessed or voluntarily disclosed

Finally, a declaration is required for CJRS payments received in the accounting period which at the time of completing the return:

The following amounts should not be included here:

Useful guides on this topic

COVID-19: Coronavirus Job Retention Scheme (CJRS) to 31 October 2020
Coronavirus Job Retention Scheme (CJRS): a cash grant payable to employers up to 31 March 2021.

COVID-19: Coronavirus Job Retention Scheme (CJRS) from 1 November 2020
What is CJRS? When does the CJRS apply? How to claim CJRS. How to calculate CJRS claim amounts.

COVID-19: Taxation of Coronavirus support payments
This guide summarises the tax treatment of grants paid during the Coronavirus pandemic.

GAAP & FRS: Changes tracker
UK Generally Accepted Accounting Practice (GAAP) changed for accounting periods, beginning on or after 1 January 2015, with the introduction of FRS101 and FRS102.  

External Links

CT600 guide

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