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furlough cash

HMRC reveals that up to £3.5bn furlough cash paid out in error

5 mins read

The FINANCIAL — Up to £3.5bn in Coronavirus Job Retention Scheme payments may have been claimed fraudulently or paid out in error, the government has said. HMRC has calculated that between five and 10% of payments have been wrongly calculated, possibly as a result of employers abusing the scheme. The job retention scheme covers up to 80% of an employee’s salary while they are on furlough. HM Revenue and Customs told MPs on the Public Accounts Committee it estimates that 5-10% of furlough cash has been wrongly awarded. Latest data shows the programme has cost the government £35.4bn so far. The…

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HMRC reveals that up to £3.5bn furlough cash paid out in error

5 mins read

The FINANCIAL — Up to £3.5bn in Coronavirus Job Retention Scheme payments may have been claimed fraudulently or paid out in error, the government has said. HMRC has calculated that between five and 10% of payments have been wrongly calculated, possibly as a result of employers abusing the scheme. The job retention scheme covers up to…

Online retail giant ASOS to pay back furlough cash (£1.8m) to government

5 mins read

The FINANCIAL — Asos announced that would be returning the cash it received under the government’s furlough scheme as it released trading statement. In a statement issued online, the company revealed that it’s able to make the payments thanks to ”a steady improvement in sales”. Active customer base increased to 23m, +16% year on year, with particularly…