25th March 2020

COVID-19 25th March Update

Job Retention Scheme

A sensible way of understanding this is that you can decide to put all or some of your staff on "furlough". You need to do this by issuing them with a letter, you will need to consider the Employment Law situation with this as I understand this can be complex so if you have an adviser for HR/Employment Law it is sensible to seek advice.

Those of you who have signed up to the Tax Investigation Insurance with Croner Taxwise through us have access to the telephone support service so I would encourage you to use this. 

As a practice, we work with an HR Adviser, Nick Taylor from the HR Department, who has offered you support with a free phonecall, his details are below:

T. 0345 250 8284

HMRC will be putting in place a new portal to inform them of the staff you have "furloughed" and that the repayment to you as a business of up to 80% of their salary (up to £2500 per worker per month) will be made. I understand that they expect this to be in place by the end of April.

Therefore you will have to pay staff as normal and you will be paid for "furloughed" staff for March and April in that payment at the end of April and then the mechanism will be place for all future payrolls. The scheme is initially in place from 1st March to 30th June 2020, but they have said it will be extended if necessary.

Support for businesses that pay little or no business rates

Grant for £10,000 for those businesses who qualify for Small Business Rates relief, I understand that today people are being contacted by email to get these grants processed, I have one client email to say he was contacted and he is based in Somerset. 

Very best
Nick Hunt