In a recent update, HMRC 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:
- Coronavirus Job Retention Scheme should see the Government guidance here and here.
- Self Employed Income Support Scheme should see the Government guidance here and here.
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