CJRS and reporting

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How are accounts reporting income from the coronavirus job retention scheme (ie furlough receipts) ? Are they being considered as additional income, a reduction of employment costs or as a separate negative line in expenses ?  

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By paul.benny
18th Feb 2021 14:33

CJRS income is a reduction in employment costs.

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By Duggimon
19th Feb 2021 10:19

If the business is a limited company, this accounting treatment is specifically prohibited by company law, see:

The Small Companies and Groups (Accounts and Directors’ Reports) Regulations 2008 (SI 2008/409) at paragraph 8

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By Sandnickel
18th Feb 2021 14:41

I've been putting them in as additional income. It hasn't reduced the wages paid, it's financial assistance towards the cost.

So, treated like a grant towards specific costs IMO.

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By meadowsaw227
19th Feb 2021 13:52

Ditto

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