Clients will be aware, from the information we have sent out and public information that the Government has made available, that a number of financial measures to help business and individuals who have lost income due to Coronavirus have been launched.
One of these is the Coronavirus Job Retention Scheme (CJRS), which aims to stop employers having to make employees redundant due to financial pressures brought about by Coronavirus.
This is done by putting the employees into ‘furlough’, which means the employer keeps them on the books and the Government will provide a grant to the employer to pay 80 per cent of the employee’s normal salary up to a maximum of £2,500 per month. The scheme will not cover any dividend income clients would normally receive.
The CJRS can also be used by directors and employees of Personal Service Companies. If you have a continuing contract and your company has income then thankfully you will not need to use the scheme.
If, however, your contract has stopped and you do not have work and believe you cannot get work due to Coronavirus issues then please let us know when you stopped work and we can make an application for the grant for you and your company. We are doing this at no cost to help our clients at this very difficult time.
So please remember it is important to let us know if you have stopped work and are unable to start a new contract due to Coronavirus – simply send an email to firstname.lastname@example.org and we’ll be in touch.
Please ignore the above if you are working or have previously advised us you have stopped working due to Coronavirus.