Self employed told to come clean

Posted on 10 Jan 2014
Share Blog Post
Self-employed given 90 days to come clean on support After HMRC received tip-offs that some workers may have overclaimed under the Self-employed Income Support Scheme (SEISS) the Treasury has given itself sweeping powers to issue penalty charges against people who may have claimed too much COVID-19 support. The scheme provided a taxable grant worth up to 80% of average profits for a period of three months, capped at £7,500. HMRC said there had been 2.7m claims worth more than £7.7bn in support. The Finance Bill grants a 90-day amnesty period to self-employed workers, after which those who have overclaimed would face fines on a sliding scale of between 30% and 100%.

View more blog posts

MTD extended
Posted on 01 Mar 2024
MTD extended
read more
Interest rate strategy
Posted on 27 Feb 2024
Interest rate strategy
read more
Tax investigations reduced
Posted on 26 Feb 2024
Tax investigations reduced
read more
High taxes hurt
Posted on 23 Feb 2024
High taxes hurt
read more
Back To Top
01604 660661