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disclosure of CJRS scheme payments

disclosure of CJRS scheme payments

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is it acceptable/preferable for the CJRS payments to be disclosed as a reduction to staff costs rather than as other income for a company reporting under FRS102 s1A?

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By Paul Crowley
05th May 2022 13:20

Other income
It is a grant like thing, not a refund of wages from the employee

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By DKB-Sheffield
05th May 2022 14:55

I agree with Paul.

ACCA produced a technical factsheet on COVID grants etc (specifically including CJRS) which was reproduced from an article by Steve Collings. Both reference FRS102 s24.

I only have a link to the pdf of the ACCA factsheet so you may be better search for it on Goolge. Steve's article is here: https://stevecollings.co.uk/accounting-for-covid-19-grants/

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By Leywood
05th May 2022 15:10

+1

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By nick farrow
05th May 2022 15:12

great thanks guys - i will go with your advice

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By Bobbo
05th May 2022 15:19

Impressed that only now over two years after CJRS started and 8 months after it ended are you having to contemplate the accounting treatment of CJRS payments for the first time.

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Replying to Bobbo:
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By the_fishmonger
19th May 2022 10:00

Bobbo wrote:

Impressed that only now over two years after CJRS started and 8 months after it ended are you having to contemplate the accounting treatment of CJRS payments for the first time.

HMRC are also only just looking at this too.

Inquiry opened to ask why HMRC couldn't see the CJRS 'grant income' on the accounts but appeared on the CT600. The client filed their own CT600 and accounts but had offset CJRS against salaries and there was nothing to see as a result.

No problem so far as tax but a couple of hours (so far!) dealing with it. Best get it right 1st time.

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Replying to the_fishmonger:
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By nick farrow
19th May 2022 11:48

thanks v interesting -we had filed all our co accounts correctly - i was just interested to see if there was any alternative

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Replying to nick farrow:
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By Hugo Fair
19th May 2022 11:51

There's always an alternative to filing accounts correctly ... but I guess that's not what you meant? :=)

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