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Support for businesses through the Coronavirus Job Retention Scheme

Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.

How to access the scheme

You will need to:

·        designate affected employees as ‘furloughed workers,’ and notify your employees of this change - changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiation

·        submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required)

HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC areworking urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers.

Please note that if we complete your payroll for you then you will need to make us aware of what staff this applies to.

Make sure you visit our website regularly for further updates

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MPH Accountants

We offer a friendly and professional service to our clients. Our client base is wide and varied ranging from small one-man bands to large limited companies, and our business principle is the same in that each client, no matter what size, has their own individual requirements.

Whitstable - 01227 277 667
Thanet - 01843 230 256
Email: admin@mphaccountants.co.uk