With the end of the Self-Employment Income Support Scheme fast approaching, HMRC have advised claimants to make sure they are still eligible, as there have been some crucial changes to the eligibility criteria that may cause unfortunate mistakes when applying.
It is also recommended that you re-check past claims as soon as possible, to make sure that you fit the eligibility requirements for each grant as changes were made to the criteria frequently and could have been overlooked.
As well as this, it would be advantageous to also gather evidence to support your claims. HMRC will be vigilant when investigating suspected false claims and have the power to charge penalties, so to avoid this make sure to contact HMRC with any errors you may have encountered.
There are time limits for when you should notify HMRC of any money you don’t think you are entitled to, and this should be within 90 days of receiving your grant.
SEISS amounts should be entered on your tax return, and submission of the return constitutes your acceptance that the figures are accurate – so reviewing your claim before your tax return is submitted is particularly important.
For advice on the SEISS get in touch with us at hello@BKplus.co.uk.