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A warning from HMRC for contractors’ agencies and end-clients to avoid ‘Mini Umbrella Companies’ has been endorsed by an independent compliance organisation.
After months of high-pressure number crunching in the face of evolving guidance, for agents and HMRC alike furlough means a lot of work, writes Helen Thornley, ATT Technical officer
"HMRC will come down heavily on those who abuse the system"
The conviction of former BHS owner Dominic Chappell for tax evasion demonstrates that the UK's HM Revenue & Customs (HMRC) "is prepared to effectively deploy its criminal powers to underpin its strap line 'nobody beyond our reach'", a tax expert and former head of the HMRC unit responsible for the work on the Chappell case has said.
Two fraudsters operating out of a south London office block are swindling the taxpayer by arranging fake bounce back loans worth tens of thousands of pounds a time, the Daily Mail reveals today.
The crackdown comes amid fears of widespread fraud related to the UK Government’s coronavirus support schemes.
Former BHS owner Dominic Chappell has been jailed for six years for evading £584,000 in taxes.
A 52 year old man from Hertfordshire was arrested this morning in connection with potential offences against the Bounce Back Loan scheme and other frauds.
According to a report released by the National Audit Office (NAO), HMRC doesn’t know the true cost of furlough fraud and employers abusing the scheme.
HMRC is reviewing allegations regarding the misuse of the Eat Out to Help Out (EOTHO) scheme following press reports that £250,000 of public money has been fraudulently claimed by 57 franchised Papa John's stores owned by Raheel Choudhary. HMRC has confirmed that an investigation is underway and it will not hesitate to take action against those who have exploited the scheme.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014