U.K. tax charge to recover overpaid COVID-19 support payments

HM Revenue & Customs will impose a new 100 percent tax charge to recover grants overpaid under coronavirus support schemes, under a measure to be added to the current finance bill.

A technical consultation on the draft legislation was published on May 29, as Chancellor of the Exchequer Rishi Sunak outlined changes to the coronavirus job retention scheme and the self-employment income support scheme. The consultation closes on June 12.

My news story for Tax Notes, June 2 (free to view):

U.K. Tax Charge to Recover Overpaid COVID-19 Support Payments