The Coronavirus Job Retention Scheme was introduced by Chancellor Rishi Sunak shortly before the UK went into lockdown four weeks ago.
The scheme ensures that any employer can ‘furlough’ staff for whom there is no longer adequate work, or simply not enough funds to pay their salaries. Furlough is more of an American term, with the closest British phrase being ‘laid off’.
Sunak promised that the government would pay up to 80% of the wages of these furloughed employees, up to £2,500 per month. The employers themselves must apply for the grant on behalf of their staff, and the funds will be paid directly to the employer to be paid to staff in the same way as usual salaries.
The grant is not means tested, meaning any employer, big or small, is entitled to take advantage.
HMRC opened their online application portal on 20th April and so far, it has worked very well. The system is relatively easy to use, and many employers are happy to deal with the applications themselves, although authorised agents (like accountants) can submit on behalf of their clients.
We at Jack Ross always try to make life easier for our clients, and we are happy to deal with the application process, hopefully alleviating some stress during a difficult time.
We have produced three options for clients and non-clients alike regarding the furlough grant applications:
Free Service
Please click here to find a comprehensive guide on how to calculate the grant and here for guidance on how to submit your claim to HMRC.
We have also produced a video walking through the application process. This can be viewed here. Please scroll to the bottom of the article to view the video.
Self Service
We have developed an online tool where you can enter the details of furloughed employees. As part of this service, we will do the following for you:
- Use the information entered by you and calculate the grant for each employee
- Submit the claim to HMRC via their portal, and
- Follow up 14 days later with HMRC if you have not received the grant
Full Service
If you do not wish to use the online tool to enter the details of the furloughed employees, we offer a full service where we will collate the information and calculate the claim for each employee.
As part of this service, we will do the following for you:
- Collate the information to make the claim
- Calculate the grant for each employee
- Submit the claim to HMRC via their portal, and
- Then follow up 14 days later with HMRC if you have not received the grant
For the purposes of this article, the services that we will be doing for you have been reduced to the most pertinent action points. However, the details will be explained in full should you wish us to make the application on your behalf.
As regards pricing, if you are an existing Jack Ross client, you should have already been contacted. However, if you have not been and wish to take advantage of either the self-service or the full service, please liaise with your usual Jack Ross contact who will be happy to advise.
If you are not yet a Jack Ross client but would like to avail of either of our chargeable services outlined above, please contact us on 0161 832 4451 or info@jackross.co.uk and we can provide you with a fixed fee quotation.
Please note that despite the uncertain times we are living in, Jack Ross are still here, and eager to assist you in any way we can.
Do not hesitate to contact us with any queries you may have – stay safe.