The Coronavirus Job Retention Scheme is now accepting applications. Employers can now claim online for a grant for 80% of their furloughed employees’ salaries, up to a maximum of £2,500 per employee. Click here to make a claim.
HMRC have produced this step by step guidance on how to make a claim. There is also a calculator to help you work out your claim. The system can process up to 450,000 applications per hour and employers should receive the money within 6 working days of making an application. To receive payment by 30 April, you will need to complete an application by 22 April. Please keep a note or print-out of your claim reference number as you won’t receive a confirmation SMS or email.
The Chancellor has also announced one month extension to the scheme. This means that the scheme will now be open until the end of June, to reflect continuing lockdown measures.
HMRC are holding live webinars providing an overview of the scheme to help employers and employees deal with the economic impacts of coronavirus. Register for a live webinar here.
Coronavirus Job Retention Scheme: step by step guide for employers
This step by step guide explains the information that employers need to provide to HMRC to make a claim through the Coronavirus Job Retention Scheme (CJRS). It also describes the processes involved.
• To be eligible for CJRS an employer must agree with the employee that they are a ‘furloughed worker’.
• Employees must be notified that they have been furloughed.
• Employees must be furloughed for a minimum of three weeks.
• The employee cannot do any work for the employer that has furloughed them.
• You can claim 80% of wages up to a maximum of £2,500 per month per furloughed employee.
• A separate claim is needed for each PAYE scheme.
• You can only claim for furloughed employees that were on your PAYE payroll on or before 19 March 2020.
• An RTI submission notifying payment in respect of that employee to HMRC must have been made on or before 19 March 2020.
• You must have a UK bank account.
If you’re looking for further support with this scheme or require any other kind of financial support for your business or organisation, please get in touch with our dedicated team.
You can call us on 0300 770 2245 or email us at email@example.com