3 critical 31 July 2020 deadlines

The last date for CJRS claims for periods ending on or before 30 J‌un‌e 2020, is 31 July 2020. If you or your clients have not made a claim at any point on or before 31 J‌ul‌y, a claim for future months will not be possible.

This deadline also applies to any amendments to a previous claim which involve adding additional employees previously missed off in error. After 31 J‌ul‌y you will not be able to add any new employees for periods ending on or before 30 J‌un‌e.

 

Tax Credits

The tax credits renewal deadline is also 31 July 2020.

Clients whose circumstances have changed in the last year or who have received a letter to reconfirm their income details must contact HMRC.

Failure to respond by the deadline may mean tax credit clients receive incorrect tax credits payments and may end up having to repay any overpayments. 

 

CGT real time residential property reporting

For transactions from 6 April 2020, it is a requirement where a liability arises on the disposal of a residential property by UK residents, to pay that expected liability and to report the transaction within 30 days of completion.

Due to coronavirus (COVID-19), late filing penalties were temporarily removed for any transactions completed on or after 6 April 2020 to 1 July 2020 provided reported by 31 July 2020.

Transactions completed from 1 July 2020 will receive a late filing penalty if they are not reported within 30 calendar days.

Interest will be charged if the tax remains unpaid after 30 days for all transactions from 6 April 2020.