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News & Articles

Getting through lockdown 2!

2/11/2020

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With the news of another lock down days away, Alison, over in our sister company, Pyramis Accountancy, has quickly pulled together some information which we hope will help.

The new JSS (Job Support Scheme) was supposed to be coming in from this month.  However instead, the ‘old’ JRS (furlough) scheme is being extended.
 
Key points are:
•    The basics are the same as the original furlough scheme
•    Furloughed employees would receive 80% of their gross salary up to a maximum of £2,500
•    Employers can choose to top up the wage to 100% salary
•    Employers will need to cover the cost of related national insurance and pension
•    Part time furlough is available, where employers will pay for any hours worked by the employees
•    To be eligible employees must have been on payroll by 30th October 2020
•    It’s not clear yet what ‘usual’ wage level the JRS will be based on
•    The government will confirm shortly when claims can first be made in respect of employee wage
       costs during November, but there will be no gap in eligibility for support between the previously
       announced end-date of CJRS and this extension
•    The JSS will not start until the JRS has finished
 
 
Support for Self-Employed Workers

Originally there were to be two further grants for self-employed workers, covering the periods November 2020 – January 2021 and February 2021 – April 2021.  The first of these is now to be at 40% of average wages (instead of 20% as previously stated).
 
There’s further information here, which will be updated as details develop: https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension
 
Key points are:

To be eligible individuals (and partnerships) must:
  • have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grant
  • declare that they intend to continue to trade and either: are currently actively trading but are impacted by reduced demand due to coronavirus / were previously trading but are temporarily unable to do so due to coronavirus
  • The online service for the next grant will be available from 14 December 2020. HMRC will provide full details about claiming and applications in guidance on GOV.UK in due course.
 

Links to other support:

You can find a lot of information here: 
 https://www.gov.uk/coronavirus/business-support
  • The Local Restrictions Support Grant supports business that have been required to close due to local lockdown restrictions.  It provides support for businesses with premises, similar to the previous rates grant.  The guidance is currently being revised in the light of the national lockdown.  Further updates and information will be available here: https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-local-restrictions-support-grant
  • The Kickstart scheme provides funding to create new job placements: https://www.gov.uk/guidance/apply-for-a-kickstart-scheme-grant-29-or-less-job-placements
  • There’s also more information here on additional resources and support, including a business support helpline: https://www.gov.uk/guidance/additional-government-resources-to-support-your-business-during-coronavirus-disruptions?priority-taxon=09944b84-02ba-4742-a696-9e562fc9b29d
  • Bounce-back loan scheme provides access to quicker finance with a 12 month interest free periods: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan
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