Latest news and updates from the IAB – Friday Roundup 19th June 2020

https://www.iab.org.uk/podcasts/

The latest updates from the International Association of Bookkeepers.

• Important points relating to the CJRS updates released on 12^th June
• Grants cannot be used to fund redundancy payments and HMRC retains the right to retrospectively audit all claims even after the scheme has stopped.
• Make sure all claims for Phase one of CJRS are in and correct before Phase 2 starts on 1^st There are now options to declare an overpayment through the available software but if there is an underpayment you need to contact HMRC directly for the individual case to be reviewed.
• HMRC are accepting Covid-19 as a reasonable excuse for late filing in an appeal case
• Payments on Account – delayed until Jan21
• Scams – a fresh wave of Cyber Crimes targeting students and using Tax Refunds as the hook
• SARS – there is increased reporting with SARS and whistleblowing cases
  
  And the Fundamentals Webinar Series starting on Monday 22nd June. 5 Days of Experts and CPD Points. https://www.iab.org.uk/fundamentals/