Declaring Coronavirus grants on company tax returns

Coronavirus grants to support businesses during the pandemic are taxable.

If a business needs to complete a company tax return (CT600) and has claimed grants from the Coronavirus Job Retention Scheme (CJRS), Eat Out to Help Out (EOHO), or any payments made by local authorities and devolved administrations, they’ll need to report this as income when they calculate their taxable profits.

Additionally, if a business received a CJRS grant, they will also need:

• to declare the amount they received (box 471)
• the grant they were entitled to (box 472)
• and any CJRS overpayment already assessed or voluntarily disclosed (box 473) during the accounting period covered by their CT600 return.

They will need to complete box 474 if they received any EOHO overpayments.

They must also include the grants as income when they calculate their taxable profits.

These boxes were added to the online CT600 on 6 April 2021, so if a business filed before 6 April 2021, they would have been unable to declare this online.

If a business submitted a CT600 return without boxes 471-474 and 526, or left the boxes incomplete, and they have a CJRS or EOHO overpayment to report they should resubmit the return.

If all coronavirus support overpayments are already repaid or have already been assessed before the tax return is filed – and there’s no coronavirus support schemes overpayment due – they do not have to correct the return.

If you need any assistance with this topic, please contact support via support@liquidaccounts.com or telephone 0161 413 5050.

Thank you

The Liquid Team