HMRC wanting back that furlough money

[festive]

Here we go again, HMRC i guess hated the fact the gov paid out all that money to 'freeloaders and scroungers' that it can't wait to claw some back. This could end up like the loan charge, sit back and watch the money go out and then deem it fraud. Friend of mine who is a chippy is worried as his accountant has asked him (just as precautionary) if he was on site during the period when claiming furlough, i don't think he was.. but what if someone just reports him anyway via the hmrc dob in your (ex)friend link. Oh what fun...

https://www.theguardian.com/politic...ports-of-people-defrauding-uk-furlough-scheme

 

[fillyboy]

May I be the first to welcome you back festive.

 

[ellal]

"HMRC wanting back that furlough money"

No sh*t sherlock

Squeaky bum time soon for some

 

[dontbelieveawordofit]

only the tax due on it surely?

 

[ellal]

only the tax due on it surely?

It is of course classed as income, and as such if it puts you into a tax bracket then you will be liable...

What will be interesting in the future is if HMRC decide to pursue those who have taken the cash where they can't prove that their income was affected negatively...

I'm fairly certain most of us will know/have heard of a bragging dodgy character out there!

 

[Mottie]

What will be interesting in the future is if HMRC decide to pursue those who have taken the cash where they can't prove that their income was affected negatively... I'm fairly certain most of us will know/have heard of a bragging dodgy character out there!

Another same old, same old dig at me and yet you constantly accuse me of 'tedious picking'!

You must be thick, bitter, twisted or a combination of all three. How many times do you need to be told: Companies furloughing employees don’t not need to prove they were negatively impacted by Coronavirus. Only self employed people do when claiming under the SEISS scheme.

Self employed: https://www.gov.uk/guidance/decide-...for-the-self-employment-income-support-scheme

Companies: https://www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme

Now, you can get back to work, those bedpans won’t empty themselves.

 

[ellal]

Another same old, same old dig at me and yet you constantly accuse me of 'tedious picking'!

You must be thick, bitter, twisted or a combination of all three. How many times do you need to be told: Companies furloughing employees don’t not need to prove they were negatively impacted by Coronavirus. Only self employed people do when claiming under the SEISS scheme.

Self employed: https://www.gov.uk/guidance/decide-...for-the-self-employment-income-support-scheme

Companies: https://www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme

Now, you can get back to work, those bedpans won’t empty themselves.

Did I mention you specifically?

So why do you appear a tad irritated...

Maybe a 'raw nerve' has been hit?

 

[Mottie]

Bit like when I talk about certain people leaving the country eh? No names, no pack drill...

 

[festive]

Ooof you two still haven't relieved the tension between you, i have a spare room if you are wanting?

Anyway that 'dob in a friend' link is fking low however i bet they still feed them all into project bigbrother to see if the computer says cash potential and it is a very powerful piece of software that never forgets.

 

[Notch7]

Ooof you two still haven't relieved the tension between you, i have a spare room if you are wanting?

Anyway that 'dob in a friend' link is fking low however i bet they still feed them all into project bigbrother to see if the computer says cash potential and it is a very powerful piece of software that never forgets.

It's ok, I've already told em you were working the whole time.
Saved you a phone call

 

[SirGalahad]

I think the bigger claw back will be from those people who had multiple ltd companies who took the BBL. I know a few contractors who reactivated dorman companies and got the loans through. This will be interesting.

Rishi splashes the cash.

 

[Mottie]

I know a few contractors who reactivated dorman companies and got the loans through.

Don’t know how they did that without deliberately lying. Without current figures you could only borrow a maximum of 25% of last years turnover. A dormant company will have no turnover. They deserve to get nicked.

 

[SirGalahad]

Don’t know how they did that without deliberately lying. Without current figures you could only borrow a maximum of 25% of last years turnover. A dormant company will have no turnover. They deserve to get nicked.

The BBL declaration is a self certified statement that asks if i recall correctly what your future sales might be if you cannot use past sales as an indicator. So would be hard pressed to prove the lie - you think the banks who authorised the loans could have said wait up this doesnt seem correct?

So the issue will come to a head when these loans need to be repaid and what happens next. That is when the lid will be lifted and then it's upto the Government to decide what to do. It may for expediency just write the loans off instead of chasing these people through the courts. Rememeber there was no personal guarantee - the most would be if they could prove that the loan was obtained fraudulently and because of the Governments loose wording that is not straight forward.

Over to you Rishi.

 

[fillyboy]

you think the banks who authorised the loans could have said wait up this doesnt seem correct?

If banks had that train of thought we wouldn't have had the financial crash.

 

[SirGalahad]

If banks had that train of thought we wouldn't have had the financial crash.

The banks worked within a weak regulation environment with even weaker monitoring and compliance.

The banks incentives and moral hazard lead to the inevitable financial crash.