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TRADESMAN NEWS

CORONAVIRUS JOB RETENTION SCHEME UPDATE

Rhino Trade Insurance 18 May 2020

DEADLINE ANNOUNCED FOR MAY 2020 CLAIMS

It’s nearly a month since the Coronavirus Job Retention Scheme (CJRS) opened and many businesses will be preparing to make another claim in order to receive money by the end of May.

To ensure you receive a payment by the end of May, you need to apply by Wednesday 20 May.

When you make a claim through the Coronavirus Job Retention Scheme, you’ll receive the money within six working days.

After making a claim, please keep all records and calculations, in case we need to contact you to discuss these.

job retention

Update on the scheme

On 12 May, the Chancellor Rishi Sunak announced that the CJRS scheme will be extended until the end of October. The scheme will continue in its current form until the end of July.

From 1 August to the end of October, we will introduce more flexibility so employers will be able to bring their furloughed employees back to work part-time and contribute to paying employees' wages while still receiving support from the scheme.

These measures will apply across all regions and sectors in the UK economy, and we expect to publish more details of how this will work by the end of May.

Guidance and support

In the meantime, more information is available online to help you apply – go to GOV.UK and search 'Coronavirus Job Retention Scheme'.

HMRCs online guidance has recently been updated with:

  • more information for furloughed employees
  • the work furloughed company directors can undertake
  • what time periods you can claim for
  • more detail on non-discretionary payments, holiday pay and record keeping

Please remember that grants are only intended for the payment of employees' salaries and related National Insurance, and pension contributions.

Payments may be withheld or need to be repaid in full if based on dishonest or inaccurate information or found to be fraudulent, and we may call you to check the details of your claim.

If you require any further assistance, please call our Tax Advice line on 0116 243 7892

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