Chapter BIM40456
| Published date | 22 November 2013 |
| Record Number | BIM40456 |
| Court | HM Revenue & Customs |
| Issuer | HM Revenue & Customs |
The taxation of Coronavirus Support Payments is governed by section 106 and Schedule 16 Finance Act 2020.
Coronavirus Support Payments include payments made under:
- the Coronavirus Job Retention Scheme (CJRS)
- the Self-Employment Income Support Scheme (SEISS)
- any other scheme subject to a direction given under section 76 Coronavirus Act 2020 (This includes the Eat Out to Help Out scheme)
- the Coronavirus Statutory Sick Pay Rebate Scheme (CSSPRS)
- any Coronavirus Business Support Grant Scheme (CBSGS)
- the Test and Trace Support Payment Scheme in England, the Self-Isolation Support Grant in Scotland and Self-Isolation Support Scheme in Wales.
- Any other scheme which may be included under a Regulation made by the Treasury.
CBSGS includes any other schemes under which a public authority makes grants with the object of providing support to businesses in connection with the effects of coronavirus or coronavirus disease. Such schemes include:
- in England
- Small Business Grant Fund
- Retail, Hospitality and Leisure Grant Fund
- Local Authority Discretionary Grant Fund
- Fisheries Response Fund
- in Wales
- Welsh Government Business Grants (Grants 1 & 2)
- Economic Resilience Fund
- in Scotland
- Business Support Fund
- Newly Self-Employed Hardship Fund
- Creative, Tourism & Hospitality Enterprises Hardship Fund
- Pivotal Enterprise Resilience Fund
- Aquaculture Hardship Fund
- Sea Fisheries Hardship Fund
- in Northern Ireland:
- Small Business Support Grant Scheme
- Retail, Hospitality, Tourism and Leisure Grant
- other coronavirus emergency and hardship funds
The above list is not exhaustive. If in doubt as to whether a scheme falls to be treated as a Coronavirus Business Support Grant Scheme, please contact Business Profits Trading Income team for advice.
Accounting for Coronavirus support payments referable to a business
For the purposes of Schedule 16 FA2020, “business” includes:
- a trade, profession or vocation;
- a UK property business or an overseas property business;
- a business consisting wholly or partly of making investments.
This guidance is predominantly written for trading businesses. It may be applied, with suitable adaptation, to other types of business.
All Coronavirus Support Payments are revenue in nature. Where these payments are referable to a trading business they are to be brought into account in calculating the profits of that business.
The taxability of Coronavirus Support Payments is subject to additional...
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