It is important to remember that COVID-19 support grants or payments are taxable and should be declared on your company tax returns.

The deadline for filing company tax returns (CT600) is 12 months after the end of the accounting period it covers. The deadline to pay Corporation Tax will depend on any taxable profits and when the end of the accounting period occurs.

If companies received taxable COVID-19 support grants or payments they should make sure it is recorded as income when calculating taxable profits.

Taxable grants include:

  • Test and trace or self-isolation payments
  • Coronavirus Statutory Sick Pay Rebate
  • Coronavirus Business Support Grants

If a company received a Coronavirus Job Retention Scheme (CJRS) grant or an Eat Out to Help Out payment, they will need to do both of the following on their CT600 tax return:

  • include it as income when calculating their taxable profits in line with the relevant accounting standards
  • report it separately on their Company Tax Return using the CJRS and Eat Out to Help Out boxes
Get in touch

If you need any tax-related support in relation to your own circumstances, get in touch with our team on 01788 539000 or 0116 261 0061 or email us at [email protected].

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