With Covid support schemes having lost between £3.3 billion and £7.3 billion to error and fraud, HMRC isn’t letting go now. It is still checking that claims for Covid support scheme payments met all necessary conditions.
Q: What connects 1,100 HMRC staff, a set of FAQs and a negative outcome for a business at a tax tribunal. A: HMRC’s approach to claims made under the Coronavirus Job Retention Scheme (CJRS or furlough scheme).
Most people had never heard the word ‘furlough’ before last spring, but the Coronavirus Job Retention Scheme proved to be a lifeline for many businesses and their employees. The scheme was completely new to the RfM Payroll team too but they would soon be claiming tens of thousands of pounds each month to help our clients pay their staff.
Ongoing changes to the Coronavirus Job Retention Scheme (‘furlough’ scheme) and Self-employment Income Support Scheme (SEISS) could potentially lead to inadvertent errors – and scrutiny from a new tax fraud taskforce. Check the latest details before you claim.
In his Budget 2021 speech, the Chancellor announced that the furlough scheme would be extended once more until 30 September 2021. This will be welcome news to the many businesses who have claimed support under the scheme to pay their staff and protect jobs. Here is an up-to-date summary of the extended scheme.
An update on the coronavirus business support initiatives including the Job Retention Scheme, Job Retention Bonus, Self-employed Income Support Scheme and new Local Lockdown grants.