Winter support and coronavirus (COVID-19) guidance

Colchester Borough Council is providing support for residents, businesses, and communities throughout winter. The government has announced that England will move to Plan B in response to the risks of the Omicron variant. Check the guidance on GOV.UK for what this means for you.

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.

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