Refunds owed to HMRC by companies in respect of Covid-related schemes
If your company owes HMRC a refund in respect of overpayments received from any of the following COVID-related schemes
and your corporation tax computation return for the period was filed before 13 October 2021…
….then you may need to submit an amended corporation tax return.
Temporary coronavirus employer support measures – information required on the corporation tax return.
HMRC are using the corporation tax return as a mechanism to collect data and any overpayments due for this scheme which ran from 20 March 2020 until 30 September 2021. It applies to all accounting periods covering this timeframe.
Retrospective refiling of the corporation tax computation and return containing this information.
As the relevant software was not updated prior to mid October 2021, the boxes requiring this information did not exist on corporation tax returns submitted before that date. HMRC have indicated that in circumstances when the company has received (and not paid back) an overpayment from these schemes, the company may need to re-submit an amended corporation tax return for the period in question with these boxes now completed.
What to do next
You only need to take action now if there was a mismatch between what the company was entitled to and what you have received (i.e. you owe HMRC a repayment and it has not been assessed by HMRC or you have repaid the amount owing) and your corporation tax return was filed prior to mid October 2021.
If this applies, then the company will need to submit an amended corporation tax return for that period.
