Business finance experts worry that troubled businesses will be discouraged from claiming the job support scheme funding as employers who claim under the scheme for the month of December onwards will be published online by HMRC.
Beth-Anne Bruce, a fully AAT and ACCA qualified Accounts Senior at The Accountancy Partnership, said: “Business owners have had an incredibly tough time this year, and the latest change to the furlough scheme should not discourage them from claiming the support they need. While the names of business claiming the support can be accessed online, the information cannot be used for competitive advantage and is purely a register.”
The Chancellor, Rishi Sunak, extended the furlough scheme deadline until the end of April 2021, this week, as UK businesses were also given reassurance by the vaccine roll-out.
Beth-Anne continued: “While some large businesses have publicly given back furlough funds they claimed earlier in the year, many smaller firms are not in the same position to do so, and should feel no shame in using the Government support to protect jobs and their future business.”
This warning follows criticism of employees, earlier in the year, who were shamed on social media for 'flouting' the furlough scheme by lazing in the park.
Beth-Anne continued: “Business owners and their HR departments should make sure the jobs and employees they are continuing to support are viable, as some employees face the prospect of having been on furlough for as many as 12 months.”