• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today!  028 3752 2909 or 028 8778 9500

  • Facebook
  • LinkedIn
  • Twitter

WHR Accountants

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH

Mobile Menu

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH
  • Facebook
  • LinkedIn
  • Twitter
Home » Blog » Businesses To Repay Grant Money Says Department Of Finance

Businesses To Repay Grant Money Says Department Of Finance

April 13, 2021 By //  by Des Ingham Leave a Comment

Following a review of the Localised Restrictions Support Scheme grant, the Department of Finance in Northern Ireland has contacted 480 businesses requesting them to repay the money they have received. This will of course come as a big blow to these businesses unless they can procure funding from another source or appeal against the decision.

DoF Has Written To 480 Businesses Requesting Repayment

Here is what the BBC News has reported on this situation on their website:

`The Department of Finance has written to 480 businesses requesting the repayment of money issued under a Covid-19 grant scheme, BBC News NI has learned.

`Following a review, officials are seeking to recover £4.38m.

`A spokesperson said businesses could appeal the decision or apply for funding from different schemes.

`The Localised Restrictions Support Scheme (LRSS) was established in October.

`It is linked to the restrictions placed on businesses and has paid out £260m to more than 13,000 businesses.
The department said all applications were continuously reviewed to ensure the scheme was working within the regulations.

`Payments are linked to the rating system which BBC News NI understands has made its administration complex, especially as restrictions changed.

Incorrect Payments Occurred For Number Of Reasons

`Incorrect payments occurred for a number of reasons, including:

  • The business was permitted to operate during the restrictions period.
  • It has ceased trading since the application was made or wasn’t open and trading at the start of the restriction period.
  • It is not operating from commercial premises.

`Businesses can appeal the decision and provide further evidence which may result in payments continuing to some businesses, reducing the overall amount of overpayments.

`It is understood officials believe a number of the 480 affected firms will be eligible for a grant scheme established by the department in March.

`If a business cannot repay the amount, Land and Property Services has said it will enter into a payment arrangement.

While payment arrangements are all well and good it is not an ideal situation for any business to have extra payments to find during this very stressful period for the vast majority of them. Why more checks were not made before these payments were made is mystifying really and just adds to the uncertainty and worries of the economic situation.

At WHR Accountants we have helped many businesses over the years secure extra funding for their business, so if you feel you need any help in this area please don`t hesitate to give us a call on 028 3752 2909 and we will do our utmost to help you.

Category: General

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

This is a very useful Call To Action in the “After Entry” widget area. You can put whatever you’d like in it, and change the background color to whatever you’d like.

You May Also Be Interested In:

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

NI Business Delegation Visit Westminster To Push For More Investment, Support & Less Regulation

Surge In Use Of AI By Northern Ireland Businesses

New UK – EU Deal To Remove Routine Checks On Animal & Plant Products

8 Reasons Why An Employer Should Use Our Payroll Services

Rural Business Development Grant Scheme Proves A Hit With Rural Businesses

Concern Over More Cash Payments To Staff After Employers National Insurance Contribution Hike

Celebrating Manufacturing Month In May

Labour Market Stays Strong In Uncertain Times

Previous Post: « The Importance Of A Comprehensive Business Plan
Next Post: Dates For Reopening Get Muted Response From Hospitality Sector »

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

WE PROMISE YOU:

If you are finding the current economic situation tough, then rest assured, we understand the pressures you face as a business owner or manager. You don’t have to face the future alone. When you choose WHR, you have an ally, a partner, a friend, in both the good times and the tough times.

028 3752 2909
028 8778 9500

RECENT POSTS

Job Retention Scheme – Update

Dear Payroll Client We are trying to continue to run our …

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

It is heartening to read that the Growth Capital Investment …

NI Business Delegation Visit Westminster To Push For More Investment, Support & Less Regulation

A business delegation from Northern Ireland, comprising of …

Surge In Use Of AI By Northern Ireland Businesses

Businesses up and down Northern Ireland have had no hesitation …

New UK – EU Deal To Remove Routine Checks On Animal & Plant Products

The agri-food deal which has been struck by the UK government …

8 Reasons Why An Employer Should Use Our Payroll Services

Employing an accountant like WHR Accountants to carry out your …

Footer

Director

James Robinson

Head Office

WHR Chartered Certified Accountants
028 3752 2909 or 028 8778 9500

56 English Street,
Armagh
BT61 7LG

Contact Us

Contact our office today. Our team are ready to help you. There is no better time than now.
Click Here →

Follow Us

Keep up to date with our social media

  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Specialist Services
  • Privacy Policy

Website created by ZebWeb