As the number of furlough fraud whistleblowers approaches 14,000, HMRC is picking up the pace on pursuing businesses that fraudulently claimed furlough
HMRC has revised estimates of total losses to covid grants such as the furlough scheme putting the likely figure at £4.5bn, down from the original £5.8bn
The government has extended the recovery loan scheme for small businesses for a further two years but has added a requirement for a personal guarantee from borrowers
Regulators are cracking down on individuals who have abused Covid-related support schemes with 179 company directors banned by the Insolvency Service, but only one jailed
A third of businesses that took out bounce back loans could have collapsed without the support of the government’s Covid-19 loan guarantee schemes during the pandemic
Taxpayers need to ensure they allocate their self employment income support scheme (SEISS) payments in the correct box on self assessment tax returns to avoid double taxation
As the scale of fraud associated with covid loans hits £4.9bn, MPs on the Public Accounts Committee have criticised the way the Department for Business (BEIS) handled fraud checks on businesses
The government has set up an arbitration system to help resolve outstanding commercial rent debts as the general moratorium on commercial evictions during the pandemic ends
After the spate of fraud related to bounce back loans, the Treasury has confirmed that all companies which used the Covid Corporate Financing Facility scheme have now repaid their loans
The bounce back loan scheme was mismanaged by the British Business Bank while lenders were slow to implement adequate fraud checks Lord Agnew told MPs today
Former fraud minister Lord Agnew warns that the Treasury faces an ‘avalanche’ of claims from banks over the government’s guarantees on the Bounce Back Loans Scheme (BBLS)
