Taxing Matters: Furlough Fraud
Welcome to the inaugural episode of our Taxing Matters podcast. In this series we review land-mark cases and key tax developments and discuss the commercial impact they could have on your business.Following HMRC's recent announcement that they have made their first furlough fraud related arrest (followed closely by several more arrests) and draft legislation giving greater enforcement powers to tackle furlough fraud to HMRC expected to become law this month, this episode focuses on issues and practical tips to help businesses mitigate their risks.
Alice Kemp talks to furlough guru Kelly Thomson about:
- How has the furlough scheme evolved over the iterations;
- The main types of furlough fraud to be aware of;
- The potential for criminal liability; and
- Practical steps businesses can take to mitigate fraud risk and reduce exposure to criminal liability.
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We hope you enjoy the episode. Please subscribe on Apple Podcasts to keep up with future episodes.
All information is correct at the time of recording. This episode was recorded before the Treasury Direction was updated and before the guidance was updated. Taxing Matters is not a substitute for legal advice.
As ever, a big thank you to our amazing guest, Kelly Thomson, our producer extraordinaire, Mary Mitchell, and to Josh McDonald, the man who solves all problems before they arise.
The music you hear was kindly written and arranged for Taxing Matters by the musical genius Andrew Waterson.
All material is copyright to RPC LLP.
- HMRC powers to tackle furlough fraudsters – take action now!
- COVID 19 Your workforce: What on earth is "furlough"?
- COVID-19: Your workforce – furloughing - act to mitigate the risk of exposure to tax evasion offences as scheme could be open to abuse
- Furlough Fraud: How to protect your business
- HMRC Guidance - Check if you can claim for your employees' wages through the Coronavirus Job Retention Scheme
- HMRC Guidance - Check which employees you can put on furlough to use the Coronavirus Job Retention Scheme
- HMRC coronavirus (COVID-19) statistics
- First press release of furlough fraud arrests