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Furlough Fraud – act now

14th October 2020 | Written by In Accountancy | Categories : CoronaVirus, Pensions and Payroll, Small Business Advice
Furlough Fraud – act now

Furlough Fraud – time is running out for firms to disclose any incorrect furlough claims, even when these have been made accidentally.

The 90 day amnesty period for any claims made before 22 July 2020 comes to an end on Tuesday 20 August, and after that the Government say potential offenders will be subjected to a “gloves off” investigation by HMRC according to The Times correspondent James Hurley.

The government reckons that ca ยฃ3.5 billion may have been claimed fraudulently or paid out in error, and HMRC are actively following up on both tip offs and other potentially incorrect claims.

If you think you may have over claimed, or made a claim you shouldn’t have under the coronavirus job retention scheme, then now is the time to double check and put it right, before it’s too late!

For more on the coronavirus Job Retention Scheme and other ares of Government Support for your business, please see older articles on our home page: www.in-accountancy.co.uk or check out the Gov.uk website for more details here: https://www.gov.uk/coronavirus/business-support

If you have any questions at all relating to this or other tax and financial support available to businesses at this stressful time, please do not hesitate to contact any of the team at IN Accountancy via phone on 0161 456 9666 or email to askus@in-accountancy.co.uk