The Business Exchange Swindon & Wiltshire Edition 49: June/July 2020 - Page 17

SWLEP us Job Retention Scheme iness... iltshire Growth Hub gives clarity on the t it means for businesses furloughing staff. to claim the grant for their les. r business premises, consider f back part time on staggered ocial distancing rules while taff part time to better utilise s recover. irements, you may want to ll time and others part time elp you in managing annual k staff to cover for holidays. grant provided through the to taper off according to the cent of wages up to a cap of ional Insurance (ER NICs) and urs the employee doesn’t ay employees for the hours o pay 80 per cent of wages yers will pay ER NICs and average claim, this represents sts that they would have t been furloughed. cent of wages up to a cap mployee does not work – nsion contributions and 10 0 per cent of the total up to a October The Government will pay 60 per cent of wages up to a cap of £1,875 for the hours the employee does not work – employers will pay ER NICs, pension contributions and 20 per cent of wages to make up 80 per cent of the total up to a cap of £2,500. Remember the cap on the furlough grant will be proportional to the hours not worked. Many smaller employers have some or all of their employer NIC bills covered by the Employment Allowance so will not be significantly impacted by that part of the tapering of the government contribution. Around a quarter of CJRS monthly claims relate to wages that are below the threshold where employer NICs and auto enrolment contributions are due, and so no employer contribution will be required for these furloughed employees in August. Important dates The Coronavirus Job Retention Scheme will close to new entrants from 30‌‌th June. From this point onward, employers will only be able to furlough employees that they have furloughed for a full three-week period prior to 30‌th‌June. This means that the final date by which an employer can furlough an employee for the first time will be 10‌‌th June for the current three-week furlough period to be completed by 30‌‌th June. Employers will have until 31‌‌st July to make any claims in respect of the period to 30‌‌th June. Guidance and support Further support for employers and agents on how to calculate claims with this extra flexibility will be available by 12‌‌th June, including webinars and detailed online guidance. For information about how to claim, go to GOV‌.‌UK and search ‘Coronavirus Job Retention Scheme’ If you would like to talk to me or one of the Growth Hub Team, please get in touch. Call: 01793 698005 or email: hello@SWGrowthHub.co.uk Visit the SWLEP online at: www.swlep.co.uk THE BUSINESS EXCHANGE 2020 9