The Coronavirus Job Retention Scheme allows employers to claim a percentage of employees wages (up to a maximum of £2,500 per employee) that have been furloughed.

CJRS EXTENSION

Due to the second lockdown and the governments most recent announcement, employers small or large, charitable or non-profit, are eligible for the extended Job Retention Scheme, which will continue for a further month - until December 2020.

Businesses will have flexibility to bring furloughed employees back to work on a part time basis or furlough them full-time, and will only be asked to cover National Insurance and employer pension contributions which, for the average claim, accounts for just 5% of total employment costs.

The Job Support Scheme, which was scheduled to come in on Sunday 1st November, has been postponed until the furlough scheme ends.

Find out more: Coronavirus Job Retention Scheme Extended - GOV.UK

Businesses required to close in England due to local or national restrictions will be eligible for the following:

• For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
• For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
• For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

Claims can be made via your local authorities website.

Employers can use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees' coronavirus-related Statutory Sick Pay (SSP). Employers can claim back up to 2 weeks of SSP if:

• they have already paid your employee’s sick pay (use the SSP calculator to work out how much to pay)
• they’re claiming for an employee who’s eligible for sick pay due to coronavirus
• they have a PAYE payroll scheme that was created and started on or before 28 February 2020
• they had fewer than 250 employees on 28 February 2020 across all your PAYE payroll schemes

Find out more: Coronavirus Statutory Sick Pay Rebate Scheme - GOV.UK

The Job Support Scheme has been designed to protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19, to help keep their employees attached to the workforce.

• Employees will need to work a minimum of 20% of their usual hours. For every hour not worked, both the employer and the government will pay one third of the employee’s usual pay (government contribution capped at £697.92 per month)
• Employees using the scheme will receive at least 77% of their pay, where the government contribution has not been capped
• The employer will be reimbursed for the government contribution
• The employee must not be on a redundancy notice

All Small and Medium-Sized Enterprises (SMEs) will be eligible. Large firms will have to justify and demonstrate that they have been largely affected by COVID-19 before they can claim under this new scheme.

The Job Support Scheme will be delayed until the CJRS Extension finishes in December 2020.

Find out more: Job Support Scheme - GOV.UK

The Job Retention Bonus is a £1,000 one-off taxable payment to employers, for each eligible employee that has been furloughed and kept continuously employed until 31 January 2021.

Businesses will be able to claim the bonus between 15 February 2021 and 31 March 2021. Businesses do not have to pay this money to the employee.

Find out more: Job Retention Bonus - GOV.UK

Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020 to 2021 tax year. The same goes for Nurseries in England. The relief will apply to businesses rates bills for the 2020 to 2021 tax year. Local councils may have to reissue a bill, but will do this as soon as possible.

Find out more: Business Rates Relief - Hospitality & Leisure

Find out more: Business Rates Relief - Nurseries

Businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period.

Instead of paying the full amount by the end of March 2021, you can make smaller payments up to the end of March 2022, interest free.

You will need to opt-in to the scheme, and for those who do, this means that your VAT liabilities due between 20 March and 30 June 2020 do not need to be paid in full until the end of March 2022.

Those that can pay their deferred VAT can still do so by 31 March 2021.

Find out more: VAT Payment Deferrals - GOV.UK

The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.

The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

Find out more: Coronavirus Bounce Back Loan - GOV.UK

The Self-Employment Income Support Scheme Grant Extension provides critical support to the self-employed in the form of two grants, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021.

The Self-Employment Income Support Scheme (SEISS) Grant Extension will now be available from 30 November 2020.

The government will provide a taxable grant calculated at 80% of 3 months average monthly trading profits. This will be paid out in a single instalment and capped at £7,500 in total.

The fourth grant will cover a three-month period from the start of February until the end of April. The UK government will set out further details, including the level, of the fourth grant in due course.

Find out more: Self-Employment Income Support Scheme Grant Extension - GOV.UK

The deadlines for paying your tax bill are usually:

• 31 January - for any tax you owe for the previous tax year and your first payment on account
• 31 July for your second payment on account

Find out more: Self-Assessment Tax Bill - GOV.UK

Universal Credit is a monthly payment to help with living costs. Individuals may be able to get it if on a low income, out of work or if they cannot work. The Universal Credit payment will be based on the earnings reported at the end of each monthly assessment period.

If you are both self-employed & employed your Universal Credit payment will be calculated based on your combined earnings from self-employment and employment.

Find out more: Universal Credit - GOV.UK

Employers can use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees' coronavirus-related Statutory Sick Pay (SSP). Employers can claim back up to 2 weeks of SSP if:

• they have already paid your employee’s sick pay (use the SSP calculator to work out how much to pay)
• they’re claiming for an employee who’s eligible for sick pay due to coronavirus
• they have a PAYE payroll scheme that was created and started on or before 28 February 2020
• they had fewer than 250 employees on 28 February 2020 across all your PAYE payroll schemes

Find out more: Coronavirus Statutory Sick Pay Rebate Scheme - GOV.UK

The Job Support Scheme has been designed to protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19, to help keep their employees attached to the workforce.

• Employees will need to work a minimum of 20% of their usual hours. For every hour not worked, both the employer and the government will pay one third of the employee’s usual pay (government contribution capped at £697.92 per month)
• Employees using the scheme will receive at least 77% of their pay, where the government contribution has not been capped
• The employer will be reimbursed for the government contribution
• The employee must not be on a redundancy notice

All Small and Medium-Sized Enterprises (SMEs) will be eligible. Large firms will have to justify and demonstrate that they have been largely affected by COVID-19 before they can claim under this new scheme.

The Job Support Scheme will be delayed until the CJRS Extension finishes in December 2020.

Find out more: Job Support Scheme - GOV.UK

A payment holiday (also called a freeze or deferral) is a period of time agreed with your lender, when you don’t have to make mortgage payments. A partial payment holiday is when your lender lets you make reduced payments.

Payment holidays are designed to help if you’re finding it hard to make payments – in this case because of coronavirus.

Mortgage payment holidays will continue until December 2020 due to a second lockdown. Borrowers who have been impacted by coronavirus and have not yet had a mortgage payment holiday will be entitled to a six month holiday, and those that have already started a mortgage payment holiday will be able to top up to six months without this being recorded on their credit file.

Find out more: Mortgage Holidays - Coronavirus

You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week. This includes if you have to work from home because of coronavirus (COVID-19).

You cannot claim tax relief if you choose to work from home.

Additional costs include things like heating, metered water bills, home contents insurance, business calls or a new broadband connection. They do not include costs that would stay the same whether you were working at home or in an office, such as mortgage interest, rent or council tax.

You may also be able to claim tax relief on equipment you’ve bought, such as a laptop, chair or mobile phone.

Find out more: Tax Relief - GOV.UK

Redundancy is a form of dismissal from your job. It happens when employers need to reduce their workforce. You must be selected for redundancy in a fair way, for example because of your level of experience or capability to do the job. You cannot be selected because of age, gender, or if you’re disabled or pregnant. If you are, this could be classed as an unfair dismissal. If you’re being made redundant, you might be eligible for certain things, including:

• redundancy pay
• a notice period
• a consultation with your employer
• the option to move into a different job
• time off to find a new job

Find out more: Redundancy - GOV.UK