HMRC has recently announced that 5 – 10% (of £35.4billion) of Coronavirus Job Retention Scheme payments have been issued in error or might have been claimed fraudulently. This means that a huge £3.5billion of furlough pay-outs could have been wrongfully awarded.
With so much uncertainty and so much change over the last few months, it is understandable if you’re feeling a bit lost with it all. The constant updates have been challenging and frustrating, so there will likely be many business owners who have made unintentional errors.
HMRC is not actively seeking anyone who made legitimate mistakes. However, it has been announced that they are financially rewarding individuals who come forward with information regarding intentional wrongdoings or fraud committed by businesses.
It is subsequently crucial that – as a business owner – you have adhered to the guidance on furloughing staff and making claims both in the initial and flexible furlough periods.
If you’re unsure or believe you have made an incorrect claim, you should seek professional advice as soon as possible.
