SEISS, the big elephant in the room?
Considering there were no real checks for the grants especially the first 3. They were clearly over subscribed whether willfully or carelessly. Considering HMRC now has 5/4/21 tax returns will they go back and demand repayments of the first 3 grants?
Such as grant receivers that have increased profits in general and particularly taxpayers HMRC have in year information for VAT, PAYE, CIS etc. Where with this information it would be clear when they were trading and an objective measure of trade reduction?
Seems like at the moment that the focus is on SEISS overclaimaints who broke specific aspects, I.e. stopped trading, did not file, amending previous tax returns etc. Will they drill down and actually investigate the details of wrongful claimants? or will they avoid the inevitable semantic defences borne of the vague and subjective declarations of the initial claims?
Genuinely interested is 5/4/21 and the first 3 grants now matter for history and over-inflated payments on account? What dies this mean for 5/4/22 and the 4th and 5th SEISS?