During this difficult time, the Government has announced a series of responsive measures in order to help people and companies through the Coronavirus pandemic.
At The Tide Group, we’d particularly like to update you on the Coronavirus Job Retention Scheme (CJRS).
Many companies are utilizing furlough as a strategic method of ensuring that they stay afloat whilst retaining their staff for the future. In line with this, the CJRS will allow employers to claim 80% of their furloughed staff wages, up to £2,500 a month.
This can be arranged through the online portal, which is launching on Monday 20 April 2020. Applicants can expect the first claims to be paid 10 days later.
HMRC is in the process of contacting businesses directly with guidance on how to make a claim. Access to the portal will be granted through government gateway login details. Here’s the key information you’ll need to ensure you provide:
- Bank Details: The relevant bank details for the account the claim should be paid into. This includes account number and sort code
- Person of Contact Details: This includes their name and phone number
- UTR or CRN: Your business’s Self-Assessment UTR (Unique Tax Reference), Company UTR or CRN (Company Registration Number)
- Employee Details: Your furloughed employees’ names, employee numbers and National Insurance numbers
- Total Amount: The total amount being claimed for all employees and the total furlough period.
Get in touch with us today if you require assistance with making a claim. You can reach Kate on 07825516161.