As the Coronavirus Job Retention Scheme (CJRS) comes to a close today, HMRC are now beginning to open compliance checks into claims made under the scheme.
Selected employers will be contacted by letter (sample here) requesting very detailed information on every employee for which CJRS grants were claimed. The letters will not necessarily be sent to the employer’s agent so it is important that they are forwarded as soon as possible should you require assistance.
The letters will have a short timescale for a response as HMRC expect the information to be readily available. In certain circumstances this may be unachievable and it is therefore important that contact is made with HMRC at the earliest opportunity to agree an alternative deadline.
Whether a compliance check letter is received or not, it is important to retain records of any CJRS claims made including:
Records should be retained for six years.
As a reminder, the CJRS closes on 30 September 2021. Claims for September should be submitted by 14 October 2021 and any amendments must be made by 28 October 2021.
We are here to help so please contact us if you wish to discuss any of the above.
The Government yesterday announced with effect from 6 April 2022 an increase of 1.25% to class 1 employees and employers national insurance, class 4 national insurance and income tax on dividends to fund shortfalls in the NHS and social care.
This will have the following effect on rates:
Draft legislation has not yet been published so these details could still change and we will keep you up to date with any new information.
The Government also announced that the Autumn Budget will take place on 27th October 2021 and we will update you of the key points as they are announced.
We are here to help do please contact us should you wish to discuss any of the above.