The UK Coronavirus Job Retention Scheme – An Update

By Amanda Sanders (UK) on March 27, 2020 Posted in Coronavirus, UK

As we noted in our previous blog post here the UK Government announced the new Coronavirus Job Retention Scheme by which employers can apply to HMRC for a grant to cover most of the wage costs (up to 80%) of salary of workers who are temporarily not working but kept on the payroll (furloughed workers) for up to a total of £2,500 per worker each month. The Government has now published further guidance on the scheme.

Which employers can apply under the scheme?

Any employer (regardless of size or sector type) who operates PAYE will be eligible for the scheme. … Continue Reading

UK Government support to self-employed individuals

By Amanda Sanders (UK) on March 27, 2020 Posted in Coronavirus, UK

On 26 March the UK Government announced a package of support to self-employed individuals. The main points of the proposal are:

Self-employed individuals can apply for grants of up to 80% of their profits up to £2,500 per month
The level will be calculated on the basis of the average monthly trading profit over the last three years.
The Scheme will be open to those with a trading profit of less than £50,000 in 2018/19 or an average trading profit of less than £50,000 from 2016-17,2017-18 and 2018-19. The chancellor has indicate that this accounts for 95% of the self-employed.

UK Coronavirus Job Retention Scheme.

By Amanda Sanders (UK) on March 23, 2020 Posted in Coronavirus, UK

The UK Government is setting up a new Coronavirus Job Retention Scheme which will help employers pay their workers’ wages. Any employer (regardless of size or sector type) will be eligible for the scheme. Employers can apply to HMRC for a grant to cover most of the wages (up to 80%) of salary of workers who are temporarily not working but kept on the payroll (furloughed workers) for up to a total of £2,500 per worker each month. The scheme will be backdated to 1 March and will run for three months, but the Chancellor will extend it if required.… Continue Reading