This is a trade facing website. Visit the ACTís consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.
The Association of Cycle Traders
This is a trade facing website.
Visit the ACTís consumer site at thecyclingexperts.co.uk.

Search News

Results: 11-20 of 1876


27 Mar 2020

Check if you could be covered by the Coronavirus Job Retention Scheme

27 Mar 2020

ACT partner NearSt introduce the option to add WhatsApp chat functionality on your NearSt shop page

26 Mar 2020

The deadline for filing all accounts will be extended by three months for businesses that have been affected by Covid-19

25 Mar 2020

To help owners of non-domestic properties, including businesses, deal with the impact of COVID-19, the Scottish Government has made changes to non-domestic rates (business rates) for 2020-21....

24 Mar 2020

Steve Bee, head of Mailshot Money, has offered bike shops access to email services amid COVID-19 difficulties.

24 Mar 2020

The ACT has made the following recommendations for mobile mechanics staying open

24 Mar 2020

Tthe latest information on how employers can access the Job Retention Scheme (JRS) to continue paying 80% of the salary for employees that would otherwise have been laid off or made...

24 Mar 2020

Bicycle shops are considered an exception to the measures and can remain open for business

24 Mar 2020

The ACT are providing regular updates on the Coronavirus. The following information has been published as of today's date

23 Mar 2020

In light of the current difficulties and the drive for employees to work from home, Butterworth Spengler have compiled the following general information to be considered

Coronavirus Job Retention Scheme guidance

Posted on in Business News , Cycles News , Political News

The new guidance for the Coronavirus Job Retention Scheme was published yesterday evening.

The temporary scheme is open to all UK employers for at least three months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19).

The scheme is open to all UK employers that had created and started a PAYE payroll scheme on 28 February 2020. The scheme will cover the cost of wages backdated to 1 March 2020, if applicable.

HMRC are aiming to have the scheme up and running by the end of April 2020. More detailed guidance will be published in due course.

 

Work out what you can claim

Employers need to make a claim for wage costs through this scheme.

You will receive a grant from HMRC to cover the lower of 80% of an employee's regular wage or £2,500 per month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that subsidised wage. Fees, commission and bonuses should not be included.

At a minimum, employers must pay their employee the lower of 80% of their regular wage or £2,500 per month. An employer can also choose to top up an employee's salary beyond this but is not obliged to under this scheme.

 

How to make a claim

Employers should discuss with their staff and make any changes to the employment contract by agreement. Employers may need to seek legal advice on the process. If sufficient numbers of staff are involved, it may be necessary to engage collective consultation processes to procure agreement to changes to terms of employment.

To claim, you will need:

  • your ePAYE reference number
  • the number of employees being furloughed
  • the claim period (start and end date)
  • amount claimed (per the minimum length of furloughing of 3 weeks)
  • your bank account number and sort code
  • your contact name
  • your phone number
  • You will need to calculate the amount you are claiming. HMRC will retain the right to retrospectively audit all aspects of your claim.

We will issue more guidance on how employers should calculate their claims for Employer National Insurance Contributions and minimum automatic enrolment employer pension contributions, before the scheme becomes live.

The Guidance for employers is available on the Government website here.

You may also find the guidance for employees helpful, which enables employees to find out if their employer is eligible, and how much they can claim if they're unable to operate or have no work for employees to do because of coronavirus (COVID-19). 

 

Add a comment

The ACT will not share your email address with anyone and it will not be published on the website.