COVID-19 update – 20 August – CBILS ‘extension’ and CJRS compliance activity.

CBILS ‘extension’

Banks have been given extra time to distribute CBILS loans to medium and larger businesses. The British Bank has written to all lenders to say applications for the Coronavirus Business Interruption Loan Scheme have to be in by midnight 30 September but they have 2 additional months to consider the applications.

CJRS compliance activity

HMRC has been risk assessing Coronavirus Job Retention Scheme (CJRS) applications in real-time but is now starting the next phase of its compliance activity, writing this week to about 3,000 employers it believes may need to repay some or all of their CJRS grant.

HMRC advises that these letters are going to cases where:

• The business may have claimed more CJRS grant than they are entitled to
• The business may not meet the conditions to receive a CJRS grant – for example, by including employees in their CJRS claim who are not eligible.

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