We understand there are constant changes to the support available due to COVID-19. Here are key dates and changes to existing support for businesses.

Coronavirus Job Retention Scheme (CJRS) – Key Dates

The Chancellor of the Exchequer announced more changes to CJRS; here are the key dates.

10th June 2020:

    • The scheme will close to new entrants on 10th June 2020.
    • Employers to ensure to add all eligible employees who are not on the scheme.

1st July 2020:

    • From 1st July, employers can bring furloughed employees back to work for any amount of time and any shift pattern, whilst still being able to claim CJRS grant for the hours not worked (Flexible Furlough Scheme).
    • From 1st July, the Coronavirus Job Retention Scheme will be closed to new entrants. Only the employees who have been previously furloughed for a consecutive of three weeks will qualify for the CJRS grant from 1st
    • The Employer will pay 100% of the wages, Employer NIC and pension contributions due for the hours the employee works.

31st July 2020:

    • Employers have until 31st July, to make any claims in respect of furlough periods before 30th June 2020.

1st August 2020:

    • The grant level will reduce gradually.
    • The government will pay 80% of furloughed employees wages, capped to £2,500 for the hours not work
    • Employers will pay all of the employer’s NICs and pension contribution for the hours the employee does not work (on furlough) and as normal for the hours worked.

1st September 2020:

    • Government will pay 70% of furloughed employees wages up to a cap of £2,187.50 for the hours not worked.
    • Employers will pay 10% of furlough wages to make up 80% total up to a cap of £2,500.
    • Employers will pay employer NICs and pension contributions.

1st October 2020:

    • Government will pay 60% of furloughed employees wage up to a cap of £1,875.00 for the hours not worked.
    • Employers will pay 20% of furlough wages to make up 80% total up to a cap of £2,500.
    • Employers will pay employer NICs and pension contribution

 

  July 2020 August 2020 September 2020 October 2020
Government contribution: employer NICs and pension contributions Yes No No No
Government contribution: wages 80% up to £2,500.00 80% up to £2,500.00 70% up to £2,187.50 60% up to £1,875.00
Employer contribution: employer NICs and Pension contributions No Yes Yes Yes

 

Employer contribution: 80% of wages No No 10% up to £312.50 20 % up to £625.00
Employee receives 80% up to £2,500.00 a month 80% up to £2,500.00 a month 80% up to £2,500.00 a month 80% up to £2,500.00 a month

More information on the scheme can be found on the government website here.

Please note if you are unsure of any of the information above, kindly contact us on 01214558055 or email mohammed@harrisacountancy.co.uk

Flexible furlough is only claimable on the hours NOT worked.

Eg. If an individual normal hours of work are 164 hours in July and has worked 80 hours In July 2020. Amount claimable would be 80% of the wages for the balance of hours not worked i.e. 84 hours. Detailed examples found here.

 

Extension to Self-Employment Income Support Scheme (SEISS)

The government extend support for individuals adversely effected by the virus.

13th July 2020

    • Deadline for claiming the first SEISS grant
    • 80% of average monthly trading profits
    • Capped at £7,500
    • Individuals must be eligible

August 2020

    • Second grant to open in August
    • 70% of average monthly trading profits
    • Capped at £6,750
    • Can claim for this grant even if first one not claimed.
    • More information to be confirmed by on 12 June 2020

Join Our e-Newsletter

Signup today for FREE to receive the Harris Accountancy periodical e-newsletter via email.

Thank you for subscribing