Overclaimed Coronavirus Job Retention Scheme grants

HM Revenue and Customs (HMRC) published guidance on potential penalties to businesses with overclaimed Coronavirus Job Retention Scheme (CJRS) grants. The Government use the Coronavirus Job Retention Scheme to help businesses to retain their staff during this Coronavirus (COVID-19) outbreak. Sometimes, mistakes could happen.

HMRC is asking you to report any overclaimed CRJS grants within the notification period given to avoid expensive penalty. This includes If you received the CRJS and you were not entitled to.

You must pay back the Coronavirus Job Retension Scheme grants you are not entitled to HMRC.

Report overclaimed Coronavirus Job Retention Scheme grants to HMRC

You must notify HMRC within 90 days of you received the CJRS grants if you have not repaid it.

In some circumstance, you may be entitled to the CJRS grants but later due to change of circumstance you no longer entitled to it, in this instance, you have 90 days to inform HMRC. For example, your furloughed staff left your business for good and you continue to claim the CJRS grants for that staff.

The latest date you must report your overclaimed CJRS grants to HMRC is 20 October 2020.

Likewise, if you have been overpaid under Self Employment Income Support Scheme, you must notify HMRC and pay back the money.

Publishing details of deliberate defaulters (PDDD)

HMRC may publish your details on the Publishing details of deliberate defaulters (PDDD) list for deliberately not notify HMRC of the overclaimed CJRS grants. You details will remain online for 12 months.

You may check the current PDDD list online here.

Companies House filings during COVID-19 pandemic

Companies House also provide support to UK businesses during COVID-19 pandemic. Your company’s account filing deadline is extended for an additional 3 months. This will help you to avoid a late filing penalty if you are unable to deliver your company accounts on time during this pandemic. You do not need to do anything. You just need to go to Companies House website to check your new filing deadline.

On the same note, you would have 6 weeks to file your confirmation statement. Likewise, for the events driven filings, you will have 42 days (6 weeks) to notify Companies House instead of the usual 14 days filing deadline. For example, you moved to a new office and this office is also your registered office for your company. In this case, you have 6 weeks to notify Companies House.

In addition, Companies House also created an interim paperless filing service to accept documents which would normally require a live signature.

You are encouraged to submit your documents to Companies House digitally. You can use the web filing service to file the following documents to Companies House.

To file online, you would require your company’s authentication code. The authentication code is the electronic equivalent of your company’s director(s) signatures. Keep safe your authentication code.

If you require help with your company’s filings, contact Our accountants. They will be more than happy to assist you.

Request Authentication Code to be sent to a home address

Companies House temporarily allows limited companies and Limited liability partnerships (LLPs) to request an Authentication Code to be sent to a home address. This temporary service is in response to the coronavirus (COVID-19) pandemic.

You can request your authentication code to be sent to your home address if you are unable to access mails sent to your registered office during this pandemic. For instance, your service address provider is still closed and you are having difficulties contacting them about your mails during this pandemic.

For this purpose, You would need your company number to sign in or to create a Companies House account which is different from your WebFiling account and your.

Normally, your authentication code request will take about 5 working days to reach you. However, expect a longer time to arrive during this pandemic. Your authentication code will be sent out to you by post only.

Why you need your authentication code?

During this pandemic, you are encouraged to submit your documents online to Companies House. You can use the webfiling service to file the following documents to Companies House.

To file online, you would require your company’s authentication code. The authentication code is the electronic equivalent of your company’s director(s) signatures. Keep safe your authentication code.

Who can and cannot request an authentication code to be sent to a home address?

You cannot use this service if :

  • your company is already dissolved. If you would like to restore your company, click here.
  • If your company is not based in the UK, for example, an overseas company.
  • You have used the WebFiling service to submit documents online in the last 30 days.
  • Only a limited company and limited liability partnership can use this service.

Companies House filings during COVID-19 pandemic

Companies House also automatically extend your company’s filing deadline. This will help you to avoid a late filing penalty if you are unable to deliver your company accounts on time during this pandemic. You do not need to do anything. You just need to go to Companies House website to check your new filing deadline.

On the same note, your confirmation statement filing deadline will also be extended. You would have 6 weeks to file your confirmation statement. Likewise, for the events driven filings, you will have 42 days (6 weeks) to notify Companies House instead of the usual 14 days filing deadline.

In addition, Companies House also created an interim paperless filing service to accept documents which would normally require a live signature.

If you require help with your company’s filings, contact Our accountants. They will be more than happy to assist you.

Countries use the euro

Countries use the euro as their official national currency are listed below. They form the Eurozone. These countries are also members of the EU.

List of countries that use the euro

  1. Austria
  2. Belgium
  3. Cyprus
  4. Estonia
  5. Finland
  6. France
  7. Germany
  8. Greece
  9. Ireland
  10. Italy
  11. Latvia
  12. Lithuania
  13. Luxembourg
  14. Malta
  15. the Netherlands
  16. Portugal
  17. Slovakia
  18. Slovenia
  19. Spain

Click here to find out the national currency of a country around the globe.

Can you use the euro in the UK?

The UK’s official currency is Pound Sterling. However, some large retailers in the UK such as Selfridges and Harrods accept foreign currencies including the euro over the counter.

Paying Companies House

Companies House in the UK only accepts payments in pound sterling.

If you are based in the countries that use the euro, for example, in Austria, you can pay Companies House by bank transfer using a bank in your home country. Your remittance will be converted into Pound Sterling when arriving the UK bank account. Companies House Bank account details are as follows:

Sort code: 52 21 07
Account number: 41005309
Swift Code: NW BK GB 2L
IBAN: GB34NWBK52210741005309

You must clearly state your company number on your bank transfer and use it as the reference. Thereafter, email your remittance advice to lfpfinance@companieshouse.gov.uk on the same day as your payment is sent – clearly stating the company name and number as the subject of your email. This will allow Companies House to process your payment quickly.

Paying Companies House by bank transfer may be more cost-effective with a larger sum like paying your late filing penalty for delivering your company accounts late.

For smaller filing fees, you can pay online using your debit or credit card. For example, you can pay your Confirmation statement filing fee at the same time filing your statement. If you are using debit or credit card issued by a bank outside the UK, you may be charged a foreign transaction fee.

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