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HMRC has begun emailing some businesses that claimed self-employment income support scheme (SEISS) grants for which it holds information suggesting that they have stopped trading.
Recipients are asked to complete an online form to confirm the business has permanently closed and the grant needs to be repaid, or to state they are still trading – in which case, HMRC may ask for more details.
Taxpayers who received the grant before 22 July 2020 must respond by 20 November 2020. Those who received the grant on or after 22 July 2020 must inform HMRC within 90 days of receiving the grant. Failure to do so, may result in a penalty.
HMRC says it will contact the business within 60 days to explain how to repay the grant or provide further information.
Agents cannot submit the form on behalf of clients.
