As of 24 March 2020, the Prime Minister Boris Johnson, placed the UK on lockdown for three weeks.
HELP FOR BUSINESSES - PAYROLL / VAT / CASH GRANTS
A package of support has been put together to help businesses in the UK. Full details can be found at: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19
EMPLOYERS & EMPLOYEES
For employers, this is a difficult time as they face lay offs and redundancies. The Government wants to keep people in work and to that end, has set up a job retention
scheme allowing 80% of salaries to be reimbursed and this will be back dated to 1 March 2020 for up to three months (longer if necessary).
All UK businesses are
You will need
affected employees as ‘furloughed workers,’ and notify your employees of this change - changing the status of employees remains subject to existing employment law and, depending on the employment
contract, may be subject to negotiation
information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required)
reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month and is working urgently to set up a system for reimbursement.
systems are not set up to facilitate payments to employers.
will be kept on your payroll, rather than being laid off.
for this scheme, employees should not undertake work for you while they are furloughed.
allow you to claim
of up to 80% of an employee's wage for all employment costs, up to a cap of £2,500 per month.
remain employed while furloughed.
choose to fund the differences between this payment and the salary, but you do not have to.
Any persons employed on a salary basis, regular basis,
irregular hours or zero hours are all protected.
The Governement have annouced a support package. This
Scheme will allow all self employed persons to claim a taxable grant of 80% of trading profits up to a maximum of £2,500 per month for the next three months. This may be extended if
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