Local support and coronavirus (COVID-19) guidance

Colchester Borough Council is providing support for residents, businesses, and communities. The government has announced that England has returned to Plan A. You should continue to protect yourself and others. Find further guidance on GOV.UK.

Draft legislation: Taxation of coronavirus (COVID-19) support payments

Views sought on draft legislation to introduce rules on the taxation of coronavirus (COVID-19) business support grants.

IN THIS ARTICLE

This consultation inviting views on the technical effectiveness of this measure, which ensures that grants within the legislation are subject to tax. These grants are treated as income where the business is within the scope of either Income Tax or Corporation Tax.

It will give HM Revenue and Customs (HMRC) powers to recover payments to which recipients were not entitled to. HMRC will also be able to charge a penalty in cases of deliberate non-compliance. The measure does not legislate for the operation of any of the COVID-19 support schemes.

This consultation from HM Revenue and Customs runs from 29 May until 12 June 2020.

View consultation

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