
Coronavirus Job Retention Scheme
How much you’ll get
Your employer will get a grant to cover 80% of your monthly earnings, up to a maximum of £2,500.
Firms will be eligible for the grant once you have been furloughed, from 1 March.
Your employer
You’ll still pay Income Tax, National Insurance contributions and any other deductions from your wage.
If you are concerned that your employer is not paying you what you are entitled to, then you should raise this with your employer in the first instance, then with Acas (Advisory, Conciliation and Arbitration Service).
How your monthly earnings are calculated
If you’ve been employed (or engaged by an employment business in the case of agency workers) for a full year, employers will claim for the higher of either:
If you’ve been employed for less than a year, employers will claim for an average of your monthly earnings since you started work. The same arrangements apply if your monthly pay varies, such as if you are on a zero-hour contract.
If you started work in February 2020, your employer will pro-rata your earnings from that month.
Bonuses, commissions and fees are not included as part of your monthly earnings.
More information are available from the Government website about Coronavirus Job Retention Scheme
We are increasingly asked whether the EIS and VCT new limits give growing companies more scope to raise tax-advantaged investments....
We are increasingly asked the same question by production companies and arts organisations: why does a claim that looked routine...
We’re increasingly asked by SME clients whether it’s worth applying for advance assurance before submitting an R&D tax relief claim....
A business can fall behind with a relatively modest VAT or PAYE liability after one difficult trading quarter. Because the...
A client came to APEX last year partway through refurbishing a mixed-use building — offices upstairs, a partly exempt letting...
More UK family firms than ever are employing family members, putting spouses, partners, and children on the payroll as they...
A client came to Apex Accountants earlier this year after inheriting her late father’s house and modest savings. She was...
A recent Upper Tribunal ruling has increased demand for UK VAT group advice by casting doubt over the terms on...
Scottish tax advice for high earners has become more important as Scottish taxpayers earning above £100,000 face one of the...
UK-based sellers trading on Amazon, eBay, Etsy and similar platforms could soon find themselves subject to a very different VAT...