Reporting coronavirus grants on your tax return

Do you know what the requirements are in terms of reporting coronavirus grants on your tax return? If not, this very brief summary of the latest information will hopefully help

Grants to support businesses and self-employed people during the pandemic are taxable. So, If you have claimed Coronavirus Job Retention grants, or other COVID grants, you need to include them as income on your tax return as well as some other COVID grants you might have received.

Depending on your business type you’ll need to report this as income on your company tax return (CT600), partnership return (SA800) or the self-employment pages of your individual Self Assessment tax return (SA103).

There is a specific box on the 2020-21 tax return for you to report your SEISS grants received on or before the 5^th of April.

You should not include your Self Employed Income Support Scheme (SEISS) grants in your turnover, or the ‘any other income’ box on the return. Including SEISS in the wrong box could cause the grants to be taxed twice.

To find examples of the types of grants or payments you need to include, when and how to include them on your tax return, search ‘reporting coronavirus grants and support’ on GOV.UK.