Please note that HMRC make regular checks on companies making a claim under the Coronavirus Job Retention Scheme.
If you make a claim that is fraudulent i.e. make a claim for a period whilst actually working, you will be required to pay back all grants received under the scheme and could be fined.
All monies received under the scheme should only be used to pay your employees’ wages and they should receive a minimum of 80% of their regular salary. You cannot enter into any transaction with your employee that reduces the amount they receive.
As part of HMRC’s commitment to transparency and to deter fraudulent claims, they will publish information about employers who claim for December onwards on the Coronavirus Job Retention Scheme. The following information will be published on GOV.UK:
- the employer name
- an indication of the value of the claim
- the company number for companies and Limited Liability Partnerships (LLP)
HMRC will also be improving the information available to employees by including details of claims made for them in their Personal Tax Account (PTA).
If you think you have made a claim when you shouldn’t have, please let us know immediately and we can advise you on what steps to take.
Need more information?
Do you need further help with the Coronavirus Job Retention Scheme? We offer a wide range of services which are unique to your business. Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.
Our fantastic team at A&C Chartered Accountants are here to help.