Undoubtedly will be hearing news from HMRC about more and more investigations and fraud convictions. HMRC is on the hunt for the small fraudsters with more than 30,000 new inspectors employed to check up the individual self assessment tax returns submitted. A bricklayer is ordered a £500 fine and to pay £2,978 in compensation to HMRC after being found to … Read More
The 5th SEISS Grant – All You Need to Know
The fifth SEISS (Self-Employed Income Support Scheme) grant application has been announced by the government. Eligible participants will be contacted through text, email, letter or through SEISS government portal informing when and how to apply. This is to be the final support self-employed grant to be made available to the public to help through the loss of profits caused by … Read More
HMRC will go after company directors for furlough fraud
HM Revenue & Customs has published a draft legislation where it warned it will impose a penalty on directors and sole traders who deliberately flout the rules of the government’s coronavirus furlough scheme. HMRC will recover the payments with penalties where recipients were not entitled and payment is not used to pay employees under: the Self-Employment Income Support Scheme (SEISS); the … Read More
Chancellor gives support to millions of self-employed individuals
Rishi Sunak announces world-leading scheme to support the UK’s self-employed affected by the coronavirus outbreak. Published 26 March 2020 direct cash grant of 80% of their profits, up to £2,500 per month latest announcement in an unprecedented package of government support to protect businesses and individuals Millions of self-employed individuals will receive direct cash grants though a ground-breaking UK-wide scheme ... Read More