14th October 2020Covid-19 Support Schemes come to an end – what happens next?

Two of the Covid-19 funding schemes introduced by government to support businesses are coming to an end, with claim deadlines approaching this month.

The second Self-Employed Income Support Scheme (SEISS) grant, announced in June, comes to an end this month. Self-employed taxpayers have until 19 October to claim the SEISS grant.

The Coronavirus Job Retention Scheme (CJRS), after entering its second phase earlier this summer, is due to end in full on 31 October, with all claims needing to be made by 30 November 2020. For a reminder of key aspects of the scheme, please visit our previous guidance here.

Any businesses who may have overclaimed a CJRS or SEISS grant must notify HMRC. This must be done within 90 days of receipt of the grant, or within 90 days of Royal Assent being given to the Finance Act 2020, whichever is the later. 20 October 2020 represents 90 days from Royal Assent, and as such will be the deadline for the notification of many grants.

To discuss any of these issues further, or to find out how we can help you plan for the future of your business, please contact us.

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