This is where we are with the furlough extension announced today – more detail will follow.
- Furlough support has been extended to 31st October 2020.
- Furlough rules will stay the same until 31st July 2020.
- From 1st August 2020 employers will be able to allow furloughed employees to work for the company for part of the time and stay furloughed for the rest of the time.
- The employer will be expected to pay a contribution to the furlough payment for those employees brought back to work for part of the time.
- The furlough payment will remain at £2,500 or 80% of the regular salary whichever is lower.
- Expectation is that, if an employee works 2 ½ days per week then the employer will pay £1,250 or 80% of half the regular salary whichever is lower. This would mean that employees potentially will be paid at 80% of their salary whilst having to work.
- Full details will be published by the end of May – where we will find the devil!!
Top Up small business grants
- Announced on 2nd May 2020 the government is making £617m available to small businesses who didn’t qualify for the Small Business Grant Fund which was based on rates bills.
- Aimed at small businesses with:
- Under 50 employees.
- Still having property related costs eg rent.
- Drop in income due to COVID19.
- Given at the discretion of the local council but emphasising:
- Businesses in shared spaces who pay rent inclusive of rates.
- Regular market traders.
- Small charity properties.
- B&Bs that pay council tax rather than business rates (may apply to furnished holiday lets).
- Maximum grant is £25,000.
- Although amounts available to each council was supposed to be announced last week, nothing has been forthcoming from government.
- Contact local council business rates department in first instance as again there are no details of how to apply.
Self-employed income support scheme
- HMRC have been contacting people they think are eligible. As far as we are aware has been done via texts and emails with embedded links which is very strange given HMRC advice about phishing.
- The application will be through GOV.UK website so don’t give any details to any other site.
- You will need:
- NI Number
- Bank account sort code and account number.
- Frustratingly HMRC don’t include agents in the information they give out.
- If you are self-employed and think you qualify but haven’t heard from HMRC do contact us
See our newsletter dated 17 April 2020 for details on eligibility as we have them at present.