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TODAY'S BULLETIN

Hi <<First Name>>, this weekend saw a big U-Turn on the Furlough scheme with the announcement of a second Lockdown. I’m sure that more updates from the Government will follow shortly but this is what we currently know: 

Job Retention Scheme (Furlough)
  • This has been extended to 30 November 2020 (further extensions may follow)
  • This will cover up to 80% of an employee’s wages for the hours not worked (cap of £2,500 per month)
  • Unlike when the scheme was introduced in March, employers will need to pay Employers National Insurance and Pension Contributions
  • To qualify an employee had to be paid through the company payroll as at 30 October 2020
  • Employees do not need to have been included on a previous claim.
We expect the claims process to be the same as the current scheme.
 


Self-employed Scheme (SEISS)


There has been no new information provided yet, we expect it to stay at 40% of average profits.
 


Local grants


Where businesses must close by law, they can apply to their local authorities for the following support grants:

 
Rateable value of premises Grant payable per 2 weeks

Up to £15,000

£667

£15,001 - £50,999

£1,000

£51,000 or more

£1,500
 

I'll send out further information as we know more.

 
Disclaimer: Advice shared in this newsletter is intended to inform rather than advise. We will accept no responsibility for any financial loss incurred.
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