Coronavirus Job Retention Scheme

payroll

Coronavirus Job Retention Scheme

The online service to claim is now live

The Chancellor of the Exchequer recently announced Covid-19 support for employers including the Coronavirus Job Retention Scheme (CJRS).  This allows employers to claim 80% of the wages of their staff up to a maximum of £2,500 per employee if they can’t maintain their workforce due to COVID-19.

Employers can furlough employees and apply for a grant that covers 80% of their usual monthly wage costs, up to £2,500 a month as well as the Employer National Insurance contributions and pension contributions associated with them.

This is a temporary scheme in place for 4 months starting from 1 March 2020, which may be extended if necessary.  Employers can use the scheme anytime during this period.

Claims must be made online and the service is now live.  HMRC have issued updated guidance on how to calculate your claim along with a step-by-step guide.

There is also a calculator so that you can check your figures before making your claim.

Make sure you have all your information and calculations ready before you begin your application. If you use the services of an accountant for your payroll, they will be able to help you with this. You should retain all records and calculations.

You’ll need to provide the following to make a claim:

  • The bank account number and sort code where you’d like your claim to be paid into
  • The name and phone number of the person that HMRC can contact in your business
  • Your Self-Assessment UTR (Unique Tax Reference), Company UTR or CRN (Company Registration Number).
  • The name, employee number and National Insurance number for each of your furloughed employees.
  • The total amount being claimed for all employees and the total furlough period.