HMRC Investigate Fraudulent Job Retention Claims.
Government figures show that 453,700 jobs furloughed in the North West up to July 31.
HMRC deadline helps companies etc. to point out errors on receipt of payments. By doing this, fines, etc., should significantly be reduced along with more severe actions.
Common concerns include, mistakes in the original grant submission or the company traded far better than predicted? Trading figures between March and October may show that the business was not qualified for help.
The self-reporting timeframe is short though should avoid the problem increasing.
Eligibility remains the biggest question. If your business performed better through the COVID-19 pandemic? Then really, should you have claimed and so need to pay back the support?
FURTHER, the level of claim is a further main issue. Read ‘HMRC Tax Investigations What to Expect‘
Fraud will result in a criminal action, and HMRC advises that they have a significant resource to carry out audits.
Therefore, a business that applied for grant support. Needs to accumulate proof that proves the financial circumstances and captures internal management discussions about the CJRS applications.
HMRC remains determined to approach blatant misuse of the scheme.
The letter might not come for a couple of years, due to volume to commence an investigation. Therefore, ensure you prepare to justify your claims and hold documents, and any additional evidence is vitally important.
For further help on HMRC Investigate Fraudulent Job Retention Claims.
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