HMRC have announced that they will be imposing penalties of up to 100% of the amounts overclaimed on CJRS, SEISS and Eat Out to Help Out Grants.
The penalties depend on whether or not the overclaim is the result of a deliberate error and whether or not the disclosure was prompted by HMRC. The penalty may be reduced where the taxpayer assists HMRC in correcting the error.
Many overclaims may be the result of careless errors or a misinterpretation of the rules which have changed many times in the last 9 months so we hope that HMRC will apply the rules with a light touch and focus on those that have abused these schemes.
We understand that HMRC are writing to 4,000 catering establishments that they suspect may have overclaimed under the “Eat out to help out” scheme that ran in August. Traders are being asked to check their claims and respond within 60 days or face an HMRC compliance check.
Thursday 17 December 2020
New Penalties for Overclaimed Grants
Subscribe to:
Post Comments (Atom)
The rules regarding grant overclaiming are changing. Here you visit exposed aggregate concrete nz and get more new tools for building material things. In the past, federal grants were awarded based on a lack of available funds within the department. This is no longer the case, and new penalties for overclaimed grants will be enacted by Congress in 2018.
ReplyDelete