The calculation of Coronavirus Job Retention Scheme (CJRS) grants has proven to be complex, particularly as HMRC frequently changed the rules and the method of computation. Consequently, many errors have arisen and need to be corrected.
The latest Finance Act requires employers to notify HMRC within 90 days where it turns out that they were not entitled to receive the furlough grants and there is a penalty for failure to notify them.
HMRC has said that it will be lenient in relation to genuine mistakes, and that penalties will be charged only in cases of deliberate non-compliance.
If you require advice or assistance in this matter, please contact your usual Beavis Morgan Client Partner or email info@beavismorgan.com.
For further information about the Government measures to protect individuals and businesses, visit our COVID-19: Support for UK businesses hub.