Furlough Grant – Next Steps is a must know topic. Furthermore, even though the scheme has ended there is housekeeping to be done. Records, compliance and reporting to HMRC is still on the radar.
If you are an employer, whether you’re a self-employed employer or a company, private or not-for-profit, it’s likely you would have accessed the furlough scheme. The scheme began back in March 2020 and closed its doors for the claims up to September ’21. The last claim would have been made by 14th of October 2021. The scheme paid out over 69.3 billion, supporting over 11.7 million employees.
However, that’s not the end of the furlough scheme.
There is still work to be done as a business to wrap it up, to make sure that your business is protected from any potential investigations and claims by HMRC.
In this vlog, I’m going to outline
- what those housekeeping exercises are,
- tell you what you need to do if you’ve overclaimed under the furlough scheme
- what you need to do to make those entries into either your self-employed form or your corporation tax form
Conclusion
Understanding about Furlough Grant – Next Steps is vital for anyone who has claimed under the scheme. The Furlough Grant was a lifeline for over 11 million people, 69.3 billion paid out. The compliance and record keeping can be overwhelming, but it doesn’t have to be that way! In this vlog I’ve broken this down and made it accessible.
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