Financial Measures – Update
The UK Government announced a new national lockdown in England from Thursday 5th November that is due to run until Wednesday 2nd December. As part of this announcement further financial support measures have been put in place. Unfortunately, our automated email sent out Monday morning was produced ahead of the weekend announcement. Some information included on this email is now out of date and some may change in the next couple of days. We will continue to update you as changes are announced.
The Coronavirus Job Retention Scheme (“furlough” scheme) has been extended throughout November and additional funding is available via a Local Restrictions Support Grant for businesses forced to close during November.
Coronavirus Job Retention Scheme (CJRS)
The Job Support Scheme (JSS) was due to replace the CJRS on 1 November. The JSS has been postponed until the CJRS ends as this has been extended to include November.
During November the CJRS will mirror the rules of the scheme in August. 80% of furloughed employees wages will be covered, up to a maximum of £2,500 per month. Employers will still be responsible for paying Employers National Insurance and Employers Pension contributions. All other rules remain the same including the use of flexible furlough.
Full guidance is yet to be published but is expected in the next few days.
Local Restrictions Support Grant
Businesses required to close in England due to local or national restrictions will be eligible for the following:
- For properties with a rateable value of £15,000 or under, grants will be for £1,334 per month, or £667 per two weeks;
- For properties with a rateable value of between £15,000 and £51,000, grants will be for £2,000 per month, or £1,000 per two weeks;
- For properties with a rateable value of £51,000 or over, grants will be for £3,000 per month, or £1,500 per two weeks.
Businesses are eligible for a grant if they:
- occupy property on which business rates are liable;
- are in a local / national lockdown area and have been required to close because of the formal publication of restrictions guidance that resulted in a first full day of closure on or after 9 September;
- have been required to close for at least 3 weeks because of the lockdown
- have been unable to provide the usual in-person customer service from its premises
Businesses can apply for these grants via their local council. You can search for your local council website here for further details.
CFW has a dedicated payroll department that has continued to support clients throughout the COVID-19 pandemic. We have prepared CJRS claims for our clients using our payroll services and provided support and advice for all our clients on the CJRS and other COVID-19 financial support measures. We will continue to provide claim and support services for our clients under the extended CJRS. Please get in touch if you require any support or advice on the extended CJRS or any other payroll matter.
A UK Government general COVID-19 support website can be found here. It contains guidance on all matters pertaining to the Coronavirus.