The Government updates are coming through as thick and fast as Boris’s speech notes, so here’s some more guidance to help you with your Corporation Tax Return CT600.
Report CJRS Furlough grants and overpayments on Corporation Tax Return CT600
The latest version of the CT600 Corporation Tax Return updated on 15th November 2021 requires companies to report CJRS Furlough Payments received and the amounts that the company was entitled to during the period in boxes 471 and 472.
Where any overpayments have already been disclosed to HMRC that amount should be reported in box 473.
If the company has over-claimed “Eat Out to Help Out” grants that amount should be reported in box 474.
The total amount over-claimed should then be entered in box 526. This amount will be assessed for income tax. HMRC will write to companies with the reference number and payment details. This is not corporation tax so you must not pay this with your main corporation tax liability.
For full details see: Guidance overview: How to complete a Company Tax Return – GOV.UK (www.gov.uk).
If you are a Folkes Worton client, we will take care of this when we complete your Return, however, if you think there has been any over-claim on either Furlough or “Eat Out to Help Out” grants, please let us know.
Folkes Worton LLP Charterest Accountants
Accounting for the Future