Covid-19 support payments: Do I need to declare?

HMRC is reminding Self-Assessment taxpayers that they need to declare COVID-19 payments in their tax return for the 2021 to 2022 tax year.

More than 2.9 million people have claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2022. These are taxable grants. They should be declared on tax returns for the 2021 to 2022 tax year before the deadline on 31 January 2023.

SEISS payments

The window for SEISS application and payment during the 2021 to 2022 tax year were:

  • SEISS Four: 22 April 2021 to 1 June 2021
  • SEISS Five: 29 July 2021 to 30 September 2021

Other payments

SEISS is not the only COVID-19 support scheme that you should declare on tax returns. If you received other support payments during the 2021 to 2022 tax year, such as:

  • Test and trace or self-isolation payments
  • Coronavirus Job Retention Scheme (CJRS)
  • Eat Out to Help Out
  • Coronavirus Statutory Sick Pay Rebate
  • Coronavirus Business Support Grants

You may need to report this on your tax return if you are:

  • Self-employed
  • In a partnership
  • A business

Company Tax Returns – Job Retention Scheme and Eat Out to Help Out

If you have received a Coronavirus Job Retention Scheme (CJRS) grant or an Eat Out to Help Out payment, you will need to do both of the following:

  • Include it as income when calculating your taxable profits in line with the relevant accounting standards.
  • Report it separately on your Company Tax Return using the Coronavirus Job Retention Scheme and Eat Out to Help Out boxes.

It is important to record all other taxable COVID-19 payments as income when you calculate your taxable profits.

If you are looking for more information on declaring Covid-19 support payments, or have any further questions, get in touch with us on 01903 2340494.