Furlough Scheme
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May- 2020 -5 MayCoronavirus
Furlough errors could cost small firms
SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later, accountancy firm UHY Hacker Young has said. The firm explained it has seen many small business applications for the furlough grant that includes the cost…
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Apr- 2020 -28 AprilBusiness Bites
Job support to be wound down, M&S dividend suspended, ventilator production slows, property market halts
Chancellor Rishi Sunack says he will wean the economy off his support schemes in a “gradual” wind-down, to help prevent soaring unemployment on ‘expiration day’. His announcement, made to MPs, came in response to concerns that a definite cut-off date would produce an explosion in redundancies and layoffs. Currently, the…
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22 AprilBusiness Bites
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have ‘slipped through the net’ of all the other largesse…
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21 AprilCoronavirus
OATA urges government to clarify guidelines for aquatic retailers amid Covid-19 crisis
The CEO of the Ornamental Aquatic Trade Association (OATA) has written to the government to clarify whether furloughed staff can volunteer to care for aquatic livestock whilst “off work” amid the Covid-19 pandemic. In a letter to the of Business, Energy and Industrial Strategy, OATA has asked for clarification due…
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20 AprilCoronavirus
Coronavirus Job Retention Scheme portal goes live
The portal for the Coronavirus Job Retention Scheme is now live, with the government saying that businesses with validated claims will receive payments within at least six days. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to…
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16 AprilEconomy
Chancellor extends furlough scheme deadline
Chancellor Rishi Sunak has extended the deadline for the Coronavirus Job Retention Scheme after it was found that many people who had recently changed jobs were set to miss out. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to a cap…
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Mar- 2020 -27 MarchCoronavirus
What we know about furlough leave and the CJRS
HMRC published details of the Coronavirus Job Retention Scheme (CJRS) on 26.3.20 which are available here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Key points include: Employees that employers can claim CJRS for For the purposes of CJRS, the definition of employee would include workers and agency workers provided they are subject to PAYE i.e. this…
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