The Government has provided guidance on how to pay all or some of your grant back if you’ve overclaimed through the Coronavirus Job Retention Scheme.

They have advised that businesses can pay the money back in one of two ways. You can either:

  • Correct it in your next claim.
  • Make a payment to HMRC (only if you’re not making another claim).

Please note that in order to repay the money, you will need your 14 or 15-digit payment reference number that begins with X. If you don’t have one, you can contact HMRC who will be able to help.

 

How to make payments

You can repay HMRC via a number of different methods including:

  • Faster Payments (online or telephone banking). This usually reaches HMRC on the same or next day, including weekends and bank holidays.
  • CHAPS usually reach HMRC the same working day if you pay within your bank’s processing times.
  • Bacs usually take three working days.

Please note that your payment may be delayed if you use the wrong reference number.

HMRC’s bank details for online or telephone banking, CHAPS and Bacs are as follows:

  • Sort code 08 32 10
  • Account number 12001039
  • Account name HMRC Cumbernauld

If you need further information about repaying the CJRS if you’ve overclaimed, please head to the gov.uk website or contact HMRC.

If you appointed PKB to do your furlough claims for you, please be assured that there’s nothing to worry about. In the incredibly rare event there’s an issue with your claim, we will be in touch immediately. If you have further questions or need help claiming for the CJRS, please don’t hesitate to get in touch and we’ll be more than happy to help.

 

To read news and blogs from Rebecca Austin, click here >>

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