Concise Accountancy

Accountants and Registered Auditors

coronavirus news updateHMRC Compliance

Payback the overpaid Self Employment Income Support Scheme Grant

HM Revenue and Customs (HMRC) published guidance seeking self-employed individuals to tell HMRC and payback the overpaid Self Employment Income Support Scheme Grant if they received the grants but were not entitled to it.

The Government use the Self Employment Income Support Scheme Grant to support self-employed individuals during this Coronavirus (COVID-19) outbreak.

HMRC is asking you to report any overpaid Self Employed Income Support Scheme grant within the notification period given to avoid penalty. This includes If you received the Self employment income support scheme grant from HMRC but you were not entitled to.

You must pay back the grant you were not entitled to HMRC.

Inform HMRC about the Self Employment Income Support Scheme Grant overpayment

You must notify HMRC within 90 days of you received the grant on or after 22 July 2020 and you have not repaid it.

If you received the grant before 22 July 2020 then you must inform HMRC by 20 October 2020.

Likewise, if you have overclaimed the Coronavirus Job Retention Scheme grant, 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 overpaid Self Employed Income Support Scheme Grant. You details will remain online for 12 months. See the factsheets here CC/FS13.

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.

Share this post

%d bloggers like this: