During the Covid pandemic, the government provided financial support, such as loans, grants, and benefits, to help individuals and businesses across the UK. However, it is estimated that over £10 billion was lost due to fraud, flawed contracts, and mismanagement by the previous government. Since then, £1.54 billion has already been recovered, but the government continues its efforts to recover the money lost.

To achieve this, the government has launched a voluntary repayment scheme allowing individuals and businesses to repay any outstanding financial support they were not entitled to or did not need – with no penalties or legal action if done voluntarily. The scheme is open until December 2025.

Those who do not take advantage of this opportunity could face prosecution once the government introduce additional investigatory powers next year. Additionally, a new Covid fraud reporting website will be launched soon, enabling members of the public to report suspected fraud.

To participate in the scheme, individuals and businesses can visit the government website to make repayments easily and securely.

We recommend reviewing your financial records carefully to identify any Covid support you may have received but were not entitled to keep.

For more information, please contact a member of our team on 01227 277667 or by emailing us at admin@mphaccountants.co.uk.