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Displaying items by tag: small business support

As we approach the winding down of the government support, and with the final tranche of the Self Employed Support Scheme grant scheduled to be delivered in August, the attention of HMRC will no doubt turn to checking that people who have received the support are properly entitled to it. The first cases are already bring brought for "Furlough Fraud".

One of the conditions where self employed people could be caught out is the requirement of intending to continue to trade in 2020-21 so could be an issue if someone claims the grant and then ceases their business later on (which is entirely to be expected, given the current extreme uncertainties)

Remember that the claim to the second self employed grant is available to those affected adversely on or after 14th July 2020. Just because you claimed the first one doesn't mean you automatically get this one.

It may not be until much later that any enquiries are made so, if you have claimed grants, furlough, or bounceback loans, I’d certainly recommend keeping a written "journal" now of your current circumstances, how your business has been affected, and any financial info around loss of trade, contracts etc. in order to substantiate a claim to support if questions are asked further down the line.

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