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TAXline News: September 2020
Frank Haskew, Head of the Tax Faculty, reports on recent developments at the Tax Faculty during September 2020.
We continue to spend much time responding to developments arising out of the COVID-19 crisis. In particular, the second version of the job retention scheme, which started on 1 August 2020, is much more complicated than the first and we are concerned that it is likely to lead to many more mistakes being made with claims than those made under the first version. Even though claims under the first version were far simpler, nevertheless we understand that in undertaking checks of claims made under the first version, HMRC has identified that many of those reviewed contain errors. Given these concerns, we published TAXguide 12/20, which highlights the risk areas that employers and agents should consider when making or reviewing Coronavirus Job Retention Scheme claims and explains how to correct claims if an error is identified.
We will continue to keep this under close review and would welcome any comments from members about how the scheme operates in practice. Many thanks to Caroline Miskin for drafting the guide.