Since the CJRS has come into effect there has been a lot of uncertainty over what should be claimed, how and when. This may have led you to making an overclaim from HMRC under the CJRS.  On Friday, the Government have finally confirmed how you can deal with any overclaims that you may have made.  The answer is a simple one – there will be an option to include any overclaims in any future claims you make under the CJRS.  A technical answer of “we had added a new box” to the claim form.  It does the job so I am not complaining.

It is critical that you do this because of HMRC’s likely approach if you fail to declare any overclaims.  It will be a compliance issue which if picked up on an HMRC audit you could not only be liable to repay but also may have a hefty fine wacked on the top.  So, top tips……

  1. Keep details of the original claim made (the overclaim) and how it was calculated.
  2. Keep a note of when an dhow the overclaim was noticed
  3. Keep details of how the amended claim was calculated and how the overspend amount was identified
  4. Keep all of these for 6 years.

Bob’s your Uncle and Fanny is your Aunt…you are sorted!

Not all is as clear though, because what if you made an overclaim but aren’t making any more claims under the CJRS – how do you look to repay?  Well, we don’t know yet!  Best advice here is to collect and keep the information I have set out above and hold on to it until we get more guidance.