HMRC have released further guidance for employers in respect of understanding further details around corrections and how to pay Coronavirus Job Retention Scheme grants back.
The process confirms how to pay all or some of your grant back if you’ve overclaimed, or if you do not need the grant and want to make a voluntary repayment.
The contents of the new guidance goes through:
- How to correct overclaims in your next claim
- How to pay
- If you’ve overclaimed
- Offset an amount you’ve overclaimed
If you’ve claimed too much through the Coronavirus Job Retention Scheme, or you’d like to make a voluntary repayment because you do not want or need the grant to pay your employees’ wages, tax and National Insurance and pension contributions, you can either:
- correct it in your next claim (your new claim will be reduced, and you’ll need to keep a record of the adjustment for 6 years)
- get a payment reference number and pay HMRC back within 30 days (only if you’re not correcting it in your next claim)
Full details can be found here
