The Coronavirus Job Retention Scheme is now open for applications, 10 days ahead of schedule.
Employers can now go online to claim cash grants worth up to 80% of wages, capped at £2,500 a month per worker. 5000 HMRC staff will operate the scheme, which is expected to help thousands of firms across the UK.
Please note the following key guidelines :
- To receive payment by 30 April you will need to complete an application by 22 April. This is because it will take six working days for the claim to be processed, issued and received.
- Decide whether you want to make your own claim or if you want your agent to act on your behalf – if you have an agent that has authorisation to act for you on PAYE matters, they can make a claim for CJRS on your behalf.
- Only call if you can’t find what you need on gov.uk – please, wherever possible, leave the phone lines open for those who need it the most. All applications will be processed online. After a claim has been submitted it will take six working days for it to be paid – please do not chase up payment during this time.
- Employees should speak to their employers with any questions, not HMRC, as they won’t be able to answer queries from individual employees.
Furthermore, a new tool has been launched to help you find Coronavirus Financial Support for your business. You may be eligible for loans, tax relief and cash grants; this support finder will help you to see what support is available for you and your business.
Finally, the Chancellor of the Exchequer has today announced a new Billion pound support package for innovative firms hit by Coronavirus. The package includes a £500 million investment fund for high-growth companies impacted by the crisis, made up of funding from the government and the private sector. SMEs focusing on research and development will also benefit from £750 million of grants and loans. More details can be found here: https://bit.ly/3cxPyJL
Please do get in touch if we can assist with any queries at email@example.com.
Kind regards & stay safe
Chair – Otley Business Improvement District Ltd