Updated Covid-19 Business Support 15/5/20

Coronavirus Job Retention Scheme extended until October.

The Coronavirus Job Retention Scheme has been extended until October and furloughed workers will continue to receive 80% of their current salary, up to £2,500. The scheme remains unchanged until the end of July. From August there will be more flexibility to enable people to return to work part-time, with employers asked to pay a percentage towards the salaries of their furloughed staff. There will be more specific details on the changes available by the end of May.

There is an updated version of the step by step guide on how to apply for support which can be found here.

The Self-Employment Income Support Scheme (SEISS) is open for applications

The scheme will allow those who are self-employed to claim a taxable grant of 80% of their average monthly trading profits, paid out in a single instalment covering three months, and capped at £7,500 altogether. This is a temporary scheme, but it may be extended.
To make a claim you will need:

  • Self-Assessment UTR (unique taxpayer reference)
  • National Insurance number
  • Government Gateway user ID and password
  • Bank account number and sort code that you want the Government to pay the grant into (only provide bank account details where a Bacs payment can be accepted)

When claiming, you will have to confirm to HMRC that your business has been adversely affected by coronavirus.

New guidance launched to help safely get back to work

New guidance for employers has been made available to help them get their businesses back up and running and workplaces operating safely.

The 5 key points are
1. Work from home, if you can
2. Carry out a COVID-19 risk assessment, in consultation with workers or trade unions
3. Maintain 2 metres social distancing, wherever possible
4. Where people cannot be 2 metres apart, manage transmission risk
5. Reinforcing cleaning processes

HMRC Business Webinars

HMRC are continuing to run free business webinars where more can be learnt about the support available to help your business deal with the economic impacts of coronavirus.