Page 12 - NASC Scaffolding Matters - Spring 2022
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12 | Scaffolding Matters Spring 2022
Taxation
Returning Coronavirus support
in a Corporation Tax Return
By Wendy Bradley, Joint Taxation Committee
hink of the government’s support to Support Scheme (JSS), Eat Out To Help Out
businesses during the pandemic as (EOTHO) and Job Retention Scheme Bonus
T replacing lost turnover: it is logical (JRB) were all introduced at pace in the middle
therefore that the support is taxable income of a pandemic, so the HMRC Corporation Tax
and must be included in the relevant return. system hasn’t been retrofitted to make it easy
You can also understand that the Coro- and you will have to do a bit of sorting out to
navirus Job Retention Scheme (CJRS), Job make it fit and produce the right result.
Here are the main boxes in the Corporation Tax Return you need to be careful with:
Box 471: CJRS and JSS Box 472: CJRS and JSS entitlement.
received Includes:
This box must be completed, even if the
• Amounts voluntarily disclosed as figure is the same as in box 471 or the
overpayments, whether or not you assessment will be incorrect.
have repaid them.
• Amounts already assessed by
HMRC, whether or not the
assessment is paid.
• Amounts you were entitled to but
repaid voluntarily.
Box 473: CJRS and JSS overpayments Box 474: JRB and EOTHO
already assessed or voluntarily Record any overpayments you have
disclosed, but not:
received in the accounting period
• Amounts you were entitled to but covered by the return and not repaid.
repaid voluntarily.
• Overpayments chargeable in the
accounting period but not already
assessed or disclosed.
Box 526: For more information on Employment
Affairs and Taxation issues go to the
In Box 526 you record the amount over-
paid and now due. This is (Box 471 + Members’ Area of the NASC website.
Box 474) – (Box 472 + Box 473)
Any resulting amount will be assessed to income payment details. HMRC has a free webinar
tax and not corporation tax and you must NOT you can sign up to and for more detail and a
pay it with your corporation tax: wait for HMRC worked example.
to write to you with the reference number and