Tag Archive: furlough fraud
Fee Protection: What is it and why do you need it?
Posted 3rd March 2021 at 12:05 pm
Fee Protection insurance covers you for the costs associated with an HMRC investigation, so that you aren’t left with a huge bill for accountancy fees associated with fighting your claim. You might think that since you know you aren’t cheating HMRC, you don’t need to worry about being investigated. Unfortunately, that isn’t the case, and you could find yourself subject to an investigation at random even if you haven’t done anything wrong. As part of the investigation your accountant will need to spend considerable time collating and presenting evidence which challenges HMRC’s assertions. They will need to go... Read more
New Business Resolutions
Posted 6th January 2021 at 8:59 am
We’re all hoping that 2021 will be a better year, but we don’t really have much control over making that happen! So what positive steps can we take to make our businesses a little better this year? Limit indispensability It’s very common for senior managers and business leaders to feel that they ‘can’t’ take time off because their businesses need them too much. However, that can be an indication of weakness in a business, either in its structure or in employee productivity. As we head towards a second year of the pandemic, anything could happen to any employee, so... Read more
Furlough Fraud – Staying on the right side of the law
Posted 11th November 2020 at 8:27 am
In response to an increase in the number of fraudulent claims against the Coronavirus Job Retention Scheme (furlough) in recent months, HMRC have published the potential penalties for employers that commit furlough fraud. Based on HMRC data, the furlough scheme has supported 9,600,000 employees, however around 27,000 employers are thought to have overclaimed by mistake and are being contacted by HMRC so that they can rectify any errors. In cases where furlough fraud was deemed to be deliberate, arrests have been made, including one individual and 8 accomplices from the West Midlands suspected of defrauding £459,000 from the scheme. ... Read more