cheap accountants - Covid-19

The Job Retention Grant Scheme has today (20 April 2020) gone live for applications to be made by all qualifying companies who operate a PAYE scheme. The great news is that this includes all qualifying employees as well as a company director so many of our clients will be able to take advantage of claiming a grant via this particular Government scheme.

Where can I apply?

We can confirm that the application process is operational via PAYE Online and we have already seen successful applications being made for the grant today. It is very easy to set up access via your Government Gateway account. To do so you will simply need your Employer PAYE reference and your Employer Accounts Office reference. If you are an existing client and we currently complete your monthly payroll we will have these details ready to hand.

Once PAYE for your company has been added to your Government Gateway account, which is an instant process, you will see an option to click and apply for the Coronavirus Job Retention Scheme. The HMRC website will immediately notify you whether or not your company is eligible to apply and then you will be able to proceed further with the application process.

What can I apply for?

You can apply for up to 80% of your furloughed employees’ monthly salaries up to a maximum of £2,500 per employee. You can read more details on the Job Retention Scheme by clicking through to our previous blog.

Can a Limited Company Director Apply?

The short answer to this question is yes a director of their own limited company can apply for a grant from the Job Retention Scheme. This was clarified by HMRC early last week which was very welcome news for ourselves and many of our clients.

What help can you offer me?

Here at Cheaper Accountant we are committed to helping and assisting all clients with this process and we are very much here for you. Feel free to email any questions whatsoever relating to the scheme and how to access these grant payments. We are very happy to hold your hand through this process and ensure that you lodge an accurate and timely claim.

When will I receive my payment from HMRC?

The first grant payments will be made on 30 April and to ensure that you receive the payment on this date your application must have been completed by 22 April. So you don’t need to rush instantly today as you may need to gather all of your relevant details, especially if you have a number of employees, to file an accurate and complete application.