Coronavirus Job Retention Scheme (CJRS)
The scheme which we were told would end on 31st October and was to be replaced with the new Job Support Scheme (JSS) has now been extended. The JSS will now commence after the CJRS has come to an end.
HMRC will again pay 80% of wages of furloughed staff up to a cap of £2,500 but will not contribute towards any Employers National Insurance or pension contributions. As before, employers are able to top up the wages to 100% if they wish to do so.
Employees can continue to work ‘flexibly’. I.e. part time hours and HMRC will fund 80% of the hours that are not worked. The claim system is not yet open, but once it is you will be able to make a claim via the same portal as before. We are expecting further details on when the claim window will be open in the next few days.
For an employee to be eligible for the extended CJRS they must have been part of an RTI submission before 30th October. This does mean that new employees recruited since the initial lockdown and other employees who have never been furloughed before can be part of the new funding system.
Employees made redundant since 23 September can also be re-employed and put back on furlough.
Self Employed Income Support Scheme (SEISS) extended
The extension will last six months from November 2020 to April 2021 and will be paid in two lump sums. The grant will be 55% of average trading profits (as previously calculated) capped at £5,160. In order to claim the third and fourth grant you must have been eligible to claim for the first two, you can still claim even if you didn’t actually receive the grant if you were entitled to it.
You must declare that you intend to continue to trade and either:
- are currently actively trading but are impacted by reduced demand due to coronavirus, or
- were previously trading but are temporarily unable to do so due to coronavirus.
The first grant will cover the period from 1 November to 31 January 2021 and the claim window is expected to open on 30th November 2020.
The Government has given details of grants available to businesses required to close during the lockdown period.
Businesses required to close in England due to local or national restrictions will be eligible:
- for properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
- for properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
- for properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.
Further information can be found in the Treasury press release: www.gov.uk/government/news/furlough-scheme-extended-and-further-economic-support-announced
Due to the change in Government restrictions our reception area will be closed to visitors from 4.00 p.m. on Wednesday 4th November. If you wish to drop off or collect books from us this will need to be by prior arrangement only. Please call 01945 582547 to arrange a time to do so.
In order to protect our staff, the vast majority of the team are now working from home where possible. All staff remain contactable by email, or alternatively if you call the office number a message can be taken so that we can return your call. Although this is not the service we would normally like to offer, we feel that this is the best way to protect our clients and staff at this difficult time.
If you would like to discuss any of the new measures announced, please do not hesitate to contact us.