Tag: HMRC

Coronavirus Job Retention Scheme & how to implement it into your payroll run
New information relating to the Coronavirus Job Retention Scheme (CJRS) has been added to various guides created by HMRC. This has been an evolving Scheme and some uncertainty remains, but crucially for business the government on-line portal for making claims opened on 20 April. As payroll providers and employers alike have been scrambling for the latest information the update to the guidelines may prove very helpful for some of the uncertainties surrounding the coronavirus job retention scheme and how to process it. (more…)

HM Treasury has published a press release which confirms that the scheme to support the self-employed through the outbreak of coronavirus is now open for claims. This new scheme has been set up by the government to provide support for those who are self-employed, either as a sole trader or a partner in a partnership and who have been trading during the 2018/19 tax year. You have been trading if you have been running a business selling goods or services and you complete self-employed or partnership pages as part of your self-Assessment tax return. (more…)

HMRC has added a calculator that can be used to work out what can be claimed for the majority of employees who are paid the same amount each pay period – for example, weekly or monthly paid employees. (more…)

Employers made 67,000 claims for workers in the first 30 minutes of the furlough portal going live.

Under the Coronavirus Job Retention Scheme, the government will cover 80% of workers’ wages, up to £2,500 a month, if they are put on leave.

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Please see below for the latest we have on the Coronavirus Job Retention Scheme.

Key points:

  • The employee eligibility cut-off date for Coronavirus Job Retention Scheme (CVJR) extended to 19 March 2020.
  • The change could mean that more of your employees can be furloughed.
  • Announcement suggests that being on a previous RTI submission is a requirement for an employee to be furlough eligible.
  • Scheme still expected to be fully operational next week.

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Coronavirus Job Retention Scheme: can directors furlough themselves?

A frequent question we are asked at TopSource & Payroll Bureau during the pandemic lockdown is: can directors of their own companies furlough themselves in order to qualify for the Coronavirus Job Retention Scheme (CJRS)? By being furloughed, the government means being on a leave of absence.

The government has provided some clarity on this but more will be needed before the CJRS goes live by the end of April 2020. (more…)

Below are the steps that employers must take if you plan to utilize the CVJR to furlough employees. This is based on the latest information available from HMRC.  Though the furlough process is not complete, there are steps that employers can start taking now. (more…)

New government Coronavirus Job Retention Scheme & what we know so far

The UK Government has announced a series of targeted measures to support individuals and businesses in response to COVID-19. One of these measures is the Coronavirus Job Retention Scheme. (more…)

Understanding the difference between these three different categories of pay is imperative for big and small businesses as not correctly paying employees can result in large penalties. (more…)

Draft legislation was published in 2019 setting out significant changes to IR35. On April 6, 2020, the United Kingdom’s anti-avoidance tax law called Inland Revenue 35 (IR35), or “off-payroll working,” changes significantly for the private sector. (more…)