HM Revenue & Customs (HMRC) are actively making enquiries into the Coronavirus Job Retention Scheme (the Scheme) claims which many employers relied upon during the pandemic.
As part of the audit process, HMRC will want to establish not only if the employer was entitled to claim under the Scheme, but also if the amounts claimed had been correctly calculated. If HMRC have reason to suspect any claim was not made in accordance with the HM Treasury Direction, they will seek to recover the amounts overclaimed together with interest and penalties.
Where an employer has made claims under the Scheme, they are required to keep a copy of all records for
MSI's London accounting member firm haysmacintyre highlights possible implications for employers.