So HMRC are going to get tough on firms, who knew?
After seeing the latest reported stance from Rishi Sunak I have two takeaways:
1) Firms have a chance to come clean.
“Once passed any business or individual that has received cash from the JRS or SEISS schemes, will have 30 days to self-declare a mistaken application and pay the furlough cash or loan back without penalty”.
Basically, get caught and you pay double.
2) “Other issues HMRC is expected to look out for are businesses that did not pass on the full furlough payment to staff, and those that are subsequently found to have traded profitably without the need for the Government bailout.”
This is an absolute can of worms. Furlough allowed many firms to trade profitably and was the reason why the government introduced it.
My plan would be simple.
HMRC have the NI number for every furlough claim.
Write to the individual or message through Government Gateway.
The Individual then legally declares that they were genuinely furloughed or not.
A negative response triggers the 100% charge and company wide investigation.
I reckon there are a few business owners who are not sleeping very well right now.