Running a business is challenging enough without the shadow of past financial decisions. For many directors, the rapid rollout of Covid-era support created confusion and pressure. Now, the Treasury has opened a final repayment window — a chance to set things straight before tougher sanctions arrive.

Why is the Treasury taking action?

Billions of pounds in Covid loans and grants have been flagged as fraudulent or wrongly claimed. The government estimates:

• £1.93bn in suspected fraud across Bounce Back Loans and CBILS.
• £3.5bn in fraudulent or erroneous furlough claims.

Some directors have already faced prosecution. For example:

• A London company director was jailed for more than two years after faking turnover to secure three Bounce Back Loans worth £130,000.
• A video game music producer was sentenced to 16 months for fraudulently applying for two Covid loans.
• Another business consultant now faces an 11-year director ban after inflating income to obtain £80,000 in loans.

These cases are a warning — and the government has made clear that those who ignore this final opportunity may face serious consequences.

What the repayment scheme offers

The Treasury’s voluntary repayment scheme allows businesses to return funds no questions asked. It covers all Covid support, including Bounce Back Loans, furlough, local authority grants and Universal Credit. The repayment window runs until December 2025 (exact date to be confirmed), after which the government will strengthen its investigatory powers.

How Wheelers can help

At Wheelers, we know how daunting this can feel. You may be unsure whether your business is affected, or worried about reputational and legal risk. Our role is to guide you:

1. Check – review any Covid-era support your business received.
2. Decide – assess whether repayment is necessary.
3. Act – use the voluntary scheme to repay before the deadline.

We help you navigate this process with clarity and confidence — so you can protect your business and move forward.

If you think your business is affected, don’t ignore this advice

• If you act now: you’ll gain peace of mind, a clear conscience, and freedom to focus on the future without the weight of uncertainty.
• If you ignore this chance: you risk prosecution, director disqualification, reputational damage — and the stress of knowing an investigation could land at your door.

The choice is clear: take control now, while you still can.

Need to speak to someone?

Even if you’re confident in the claims you made, it’s worth checking your position. If you think you may have received support you weren’t entitled to, or want to be prepared in case HMRC asks questions later, we can guide you through the next steps.