Will I go to prison?

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Covid-19 business closures may have died down and many are back up and running and we now see the coronavirus job retention ( furlough) scheme (CJRS) being phased out.

Watch this space as we await figures of the further spread of the virus or a second wave and if HMRC will back down and re-open the furloughing scheme to limited sectors.

However where there’s a fund there’s a fraud and HMRC is starting to take up many enquiries into furloughing fraudulent claims. ...

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Help with Tax investigations – false furloughing claim investigations

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Under scrutiny for false furloughing claim? what can you do?

Defend yourself with the evidence!

Any firm that has benefited from the furlough schemes or grants should keep evidence to prove that employees paid under the schemes would still have been in work even if the pandemic had not happened.

This means keeping detailed records of the decisions made as to why they believed they were entitled to access payments under the schemes including what you they spent any grants on – which ...

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Help with Tax investigations – CASH ONLY

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Lockdown – CASH ONLY

Fish and chip shops, restaurants and take-aways beware
Market Traders and Farm Shops keep those records!

HMRC are busy noting down those shop signs that are springing up everywhere lately showing “Cash Only”

So, what’s the problem?

Well it has been reported to me by HMRC that they have seen a prevalence of food take-away establishments remaining open throughout the Covid19 lockdown with such ‘cash only’ signs in the windows and what is this indicating to a sceptical investigator? ...

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Help with Tax investigations – Covid19 Tax Issues

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Covid19 aids HMRC investigative tactics
How do HMRC intend to select cases for enquiry?

Make a voluntary disclosure before they come to you.

Did you apply for the Self Employed SEISS grant?

Well if so, this means HMRC were able to take a long hard second look at the profits you have declared in the past three years at least!

Profit just under the VAT threshold year on year?

Profit under the tax-free personal allowance threshold or below the minimum wage levels?

Child Tax Credits claimed ...

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