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.

Try a site search Tax return, dividends, pension...

Company details

01223 870879

Curnow & Co, 29 High Street, Harston, Cambridge, Cambridgeshire CB22 7PX.

Curnow & Co Limited Registered office address: Curnow & Co, 29 High Street, Harston, Cambridge, Cambridgeshire CB22 7PX. Incorporated on 25 February 2017. Company number 10639627.

About us

Curnow & Co are a firm of Chartered Certified Accountants based in Harston, Cambridge.

The company prides itself on delivering a friendly and professional service tailored to clients’ individual needs.

We provide a wide range of accounting, business and tax services, giving our clients peace of mind that their financial affairs are in safe hands.

Find out more »

© 2020 Curnow & Co. All rights reserved. We use cookies on this website, you can find more information about cookies here.