With the UK situation changing daily we can help keep the public informed about your business. Please see the attached note to see how we can support you get your message out to our social media followers at Enjoy Wolverhampton.
Latest advice from the Government, City of Wolverhampton Council and Wolverhampton BID Click here
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Wolverhampton BID have received some insights from Chartered Accountants Daw White Murrall on the latest Government guidance for the Coronavirus Job Retention Scheme, please see below the link for the guidance in full.
We recommend you read the guidance in full following the link above, but below are some key points;
1. Employers can claim 80% of furloughed employees usual wages costs up to £2,500 per month (this is “regular” wages excluding fees, commission and bonuses)
2. Minimum length of furloughing is three weeks (this would suggest if off for less than this no claim is available)
3. Employers NI and Employers pension contributions on the 80% WILL also be covered by the scheme
4. It is applicable to employees on the payroll as at 28 February 2020 (and under RTI submission HMRC know this already)
5. To be eligible you must write to the employees to notify them they are on furlough leave and no work can be undertaken by them during the absence period – retention of this communication is required
6. If employees are on reduced hours/ short time working they will not be eligible
7. The claim is based on the regular wages, therefore basic pay. Further details are included in the guidance
8. This information can apply to directors of small businesses
9. It covers employees made redundant as a result of COVID-19 since 28th February 2020 provided they are rehired by their previous employer
The government’s portal is not yet ready but the scheme is expected to be operational by the end of April.
Keep checking the government website for further advice at www.gov.uk/coronavirus
With thanks to Daw White Murrall Chartered Accountants