Are you a new business? Or an existing business interested in our services?Get a quote
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
It remains unclear whether Directors or those on zero hour contracts will be applicable under this scheme. We also expect an anti avoidance clause for employers that have no intention of re employing people.
For those that qualify the Chancellor announced that it would be back dated to 1st March 2020.
How to access the scheme
You will need to:
HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month, which we understand may be subject to tax and national insurance.
HMRC are working urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers. This requires a whole new IT system implemented by HMRC, we do not expect this until April 2020.
Brearley & Co Accountants are pleased to offer a free, no obligation, initial consultation with one of our experts who will be happy to discuss your business needs and how we can help you.Contact