UK businesses voluntarily return £215 million in furlough funds

HMRC data has revealed that UK businesses have voluntarily returned more than £215 million in overclaimed Coronavirus Job Retention Scheme (CJRS) payments.

21 Sep 2020

HMRC data has revealed that UK businesses have voluntarily returned more than £215 million in overclaimed Coronavirus Job Retention Scheme (CJRS) payments.

Around 80,433 firms have returned furlough funds they were given to help cover employees' salaries.

Commenting on the issue, HMRC stated: 'HMRC welcomes those employers who have voluntarily returned CJRS grants to HMRC because they no longer need the grant, or have realised they've made errors and followed our guidance on putting things right.'

The government believes as much as £3.5 billion in CJRS funds may have been paid out in error or to fraudsters.

Launched in April, the CJRS was designed to support businesses during the coronavirus (COVID-19) pandemic. Initially furloughed workers received 80% of their pay from the government, up to a maximum of £2,500 a month. Under the scheme, employers are now having to make contributions to employees' wages.

The CJRS will finish at the end of October, and will be followed by the Job Retention Bonus, which aims to encourage employers to keep employees on the payroll until the end of January 2021.

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2020 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK