Every day more information is released about the new Coronavirus Job Retention Scheme but there remain a number of questions that are yet to be answered. Here is our video summary of the key points that have been announced so far along with highlighting some of the questions that remain at the current time:
This measure appears to be a very strong response from the UK Government to protect our economy in the fight against the Coronavirus but as with any new system, it remains to be seen where the gaps are and what the outcome will be, particularly in some of the more unique circumstances. The online portal to make claims is not expected to be available until the end of April 2020 and HMRC have reserved the right to audit claims made retrospectively.
HMRC's latest link to the Job Retention Scheme does clear up some previously unanswered queries, (eg. the minimum period of furlough being 3 weeks) - view the following link to see whether your circumstances are covered: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme
Please be aware of the increased risk of fraud when uploading sensitive information via new online links, attachments and portals.
You can also sign up for updates as things change on the HMRC website given that updates are taking place all the time - https://www.gov.uk/email-signup?link=/government/topical-events/coronavirus-covid-19-uk-government-response
Take care and stay safe,
Jono, David and all the team at B&T