Taxpayers that have received CJRS or SEISS grants are urged to double check their entitlement, as the 90 day period to inform HMRC of any overclaimed amounts is now law. That is the later of 20 October 2020 or 90 days of receipt of the grant.
For SEISS grants the key risks affecting entitlement are:
- the trade was not adversely affected by coronavirus;
- the trade did not continue in the tax year 2019-20 (eg, because it ceased or the business was incorporated); or
- there was no intention to continue to trade in the tax year 2020-21.
The key risks affecting entitlement to CJRS grants include:
- grants not used for the purposes for which they are intended;
- calculation errors; and
- employees working during periods that they are on furlough.