×

Resources

HMRC starting to investigate covid-19 support scheme claimants

In a recent updateHMRC has indicated it will be reviewing claims to the various Covid-19 support schemes (such as the Coronavirus Job Retention Scheme and Self-Employment Income Support Scheme) in a step to take tough action on fraud.

8 September 2020

 

In its update HMRC said:

Where people have made an honest mistake, we want to help people correct them. No one who has tried to do the right thing but made an honest mistake has any need to be concerned, as long as they put it right. Claimants can correct any mistake they’ve made without fear of a penalty or other sanction, provided they notify us by 20 October 2020, or within 90 days of receiving the grant, whichever is latest.

 

One particular area we feel HMRC will be looking out for is cases where employees and/or directors were furloughed but carried on working in that organisation.

Claimants who feel they have incorrectly claimed for the:

Also, bear in mind that the deferral period for VAT payments came to an end on 30 June.  For more information about what to do next see here.

 

Can we help?

If you need guidance on what HMRC’s announcement means to you and your business, call your usual Shipleys contact or one of our team of Tax, VAT and HR Specialists shown on this page.

 

Specific advice should be obtained before taking action, or refraining from taking action, in relation to this summary. If you would like advice or further information, please speak to your usual Shipleys contact.

Copyright © Shipleys LLP 2020

Current Issues

Women missing out on state pension

Thousands of women are thought to have been underpaid the state pension, thanks to a rule change in 2008 and computer errors.

Insolvency, Restructuring and Refinancing – IBSA Conference 2021

Shipleys is delighted to sponsor the International Business Structuring Association's (IBSA) Autumn conference, with Ben Bidnell joining the panel of expert speakers.
Autumnal leaves.

Pension freedom age to rise

The earliest age at which you can withdraw cash from a private pension, without facing tax penalties, is set to increase from 55 to 57 on 6 April 2028.