Coronavirus JOB SUPPORT SCHEME (JSS)
Chancellor Rishi Sunak announced A new Job Support Scheme on 9th October 2020. This is a new scheme that will support employees of businesses that are told to close by the government due to coronavirus restrictions.
What help is now available?
Employees who work for UK firms forced to shut by law because of coronavirus restrictions are to get two-thirds of their wages paid for by the government.
The scheme, announced by Rishi Sunak, begins on 1 November 2020 for six months.
Prime Minister, Boris Johnson, is to announce a restrictions update later today (12th October 2020), which could see pubs, restaurants are other high-risk businesses shut in the worst-affected areas.
The announcement comes just a fortnight after the government unveiled its Winter Economy Plan – replacing the furlough scheme – to top up the wages of staff who have not been able to return to the workplace full time.
The latest JSS scheme will only apply to businesses told to close – rather than those who choose to shut because of the broader impact of Covid restrictions.
The support will be reviewed in January 2021. Until November, businesses that are asked to close can continue to use the existing furlough scheme.
The grants will be paid up to a maximum of £2,100 per employee a month.
The chancellor said the latest measures for companies forced to shut would provide “reassurance and a safety net for people and businesses in advance of what may be a difficult winter”.
In addition, for businesses forced to close in England, Mr Sunak announced an increase in business grants – with up to £3,000 a month paid every fortnight.
The Treasury says the devolved administrations in Scotland, Wales and Northern Ireland will receive increased funding allowing them to bring in similar measures if they choose to.
How does my business apply for the JSS?
At the moment the HMRC website is not providing much information on how to apply for this, however, we expect the website to be updated in the next few days with more information. We imagine it will be clearer later today after the Prime Ministers update. We will provide any links when they become available to us.
We will still be processing all current clients Payroll the same way we have been doing, so if we already provide you with accounting services, then you don’t need to get in touch with us. We will be able to process the latest scheme from December 2020 for your employees.
The Payroll needs of your company are changing drastically every month, so if you need any help with this, please don’t hesitate to give us a call. Our experienced accountants are providing expert payroll advice and support to all our clients during these difficult times.
We’re in this together.
Source: BBC News