Deadline for January Furlough Claims
Coronavirus Job Retention Scheme claims for December should have been processed before the deadline of 14th January. If, however, you need to make a change because you didn't claim enough, you have until Thursday 28th January. Martin Cull, from our Audit Department, goes through the key deadlines that businesses need to observe.
December Claims
You or your accountant should check that you are claiming the maximum amount of furlough support, as you are still able to make amends to your claim until 28th January.
If you haven't yet submitted your claim for the December period, it may still be possible if you provide HMRC with a reasonable excuse. Your accountant should be able to advise on the best way to apply for a late claim.
January Claims
Claims for the January period can be made now, but must be submitted no later than Monday 15th February. It's best to only make a claim once you are certain about the number of hours your employees will or won't work throughout January, as this avoids having to amend the details at a later date.
Overclaiming
If you have been paid too much through the Coronavirus Job Retention Scheme, you or your accountant should notify HMRC within 90 days of receiving the additional sum. If you do not notify HMRC in time, you may be liable to interest and fines.
Notice Periods
If your employee is on their contractual or statutory notice period, you are unable to claim throughout for its duration. This period includes notices of retirement or resignation.
It is important that all records surrounding your claims are kept safe, just in case HMRC needs to check them.
If you believe that you have overclaimed the CJRS, haven't claimed enough, or perhaps you need some advice about the best way to claim, don't hesitate to contact a member of the team on 0115 955 5500 or email enquiries@pagekirk.co.uk.