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Over £250m grants for the self-employed fraudulent or paid in error

08-10-2020

HMRC has said up to £258m in grants for the self-employed could have been fraudulent or paid in error, amounting to 1-2% of all Self-Employment Income Support Scheme (SEISS) payouts. A total of £12.9bn has been paid out in 4.7m grants and so HMRC is confident its system has prevented wide-scale fraud. Andrew Chamberlain from the Association of Independent Professionals and the Self-Employed, comments: “When compared to the Bounce Back Loan Scheme, where £26bn has been lost from fraud or default, or the Job Retention Scheme, which has lost £3.5bn through default or error, these numbers are comparatively low."

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