HMRC have estimated that since that start of the furlough scheme started in March 2020, some £3.5 billion has been erroneously paid to employers and HMRC is now aiming to collect double the amount wrongly claimed.
This attempted recovery could be worth £7 billion to HMRC. There is potentially a lot of money to collect and that is worth HMRC putting some manpower behind this recovery. The recent extension to furlough merely adds to the recovery exercise.
You might be one of the 12,000 employers or accountants that have received a letter from HMRC this month stating that furlough payments need to be repaid. If you have received a ‘nudge’ letter from HMRC, we urge that you review your records to make sure you have not claimed more than you are entitled to
In most cases, there are mitigating circumstances and by making a voluntary disclosure to HMRC and coming clean, Monty has been successful in negotiating with HMRC and significantly reducing the penalties on behalf of clients.
You get 90 days from the date of the ‘nudge’ letter, so acting fast is important. This is the only chance you have.
Monty has the skills to mitigate on your behalf if you’ve inadvertently made any errors while applying to the Coronavirus Job Retention Scheme (CJRS) and can offer the latest legal advice around employment, tax and how this impacts your workforce during the ongoing coronavirus pandemic.