Tuesday, 23 June 2020

Repaying Job Retention Scheme Grants

We recently had a client ask us if its possible to repay the grant they received from the Job Retention Scheme, as the impact of COVID-19 on their business was not as bad as originally expected. You may have seen in the press some larger companies promising to repay the JRS grant also.

We have spoken to HMRC and at present their official stance is that they are not expecting or encouraging any business to repay the JRS grant. Indeed as mentioned last week, there is no facility for this to be repaid even if a business wanted to. 

For businesses who want to repay the JRS grant our advice is to hold fire until the long-term impact of COVID-19 is better understood. By then HMRC will have updated guidance on how repayments can be made should you wish to do so. 

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