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Coronavirus Financial Assistance – 09.06.2020

Coronavirus Financial Assistance – 09.06.2020

Update 09.06.2020

For an overview of the financial packages available to support you through the pandemic, https://bit.ly/2Klfe06, or for support specific to Scotland, https://bit.ly/2zeIGT5

Also, please click https://bit.ly/2W94h8M, to view our previous updates.

 

Coronavirus Job Retention Scheme

https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme

Main New Points to Consider

  • Closed to new entrants as of 30 June.
  • Anyone you want to furlough after 30 June must have been furloughed for at least 3 weeks before 30 June (therefore 10 June is the latest date for any new furlough staff).
  • From 1 August, employers will be required to pay the employers NIC & pension contribution element of any furlough claims.
  • From 1 September, employers will need to pay 10% of the wage costs, plus all of the employers NIC & pension contribution element of any furlough claims.
  • From 1 October, employers will be expected to pay 20% of the wage costs, plus all of the employers NIC & pension contribution element of any furlough claims.

 

Self-Employment Income Support Scheme

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

Main New Points to Consider

  • Closed to new applications as of 13 July.
  • A second claim will be possible in August and additional information is to be provided in this regard in due course. The second grant will be payable at 70% of average monthly trading profits (the first grant was 80%) and will cover a 3-month period, being capped at a maximum of £6,570 per claim.


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