Get ready to claim – Coronavirus Job Retention Scheme

The online claim service for the Coronavirus Job Retention Scheme will be launched on GOV.UK on Monday 20‌‌ April 2020. Any entity with a UK payroll can apply, including businesses, charities, recruitment agencies and public authorities. To prepare to make your claim you will need:

• a Government Gateway (GG) ID and password – if you don’t already have a GG account, you can apply for one online, or by going to GOV.UK and searching for 'HMRC services: sign in or register'
• be enrolled for PAYE online – if you aren’t registered yet, you can do so now, or by going to GOV.UK and searching for 'PAYE Online for employers'
• the following information for each furloughed employee you will be claiming for: Name, National Insurance number, Claim period and claim amount, PAYE/employee number (optional).
• if you have fewer than 100 furloughed staff – you will need to input information directly into the system for each employee. If you have 100 or more furloughed staff – you will need to upload a file with information for each employee; HMRC will accept the following file types: .xls .xlsx .csv .ods.

You should retain all records and calculations in respect of your claims. You can find more information on the scheme and eligibility to claim here.

Chancellor expands loan scheme for large businesses

The Coronavirus Large Business Interruption Loan Scheme has been expanded to cover all viable firms. All firms with a turnover of more than £45 million will now be able to apply for up to £25 million of finance, and up to £50 million for firms with a turnover of more than £250 million.

The scheme, which will launch on Monday, will be available through a series of accredited lenders, which will be listed on the British Business Bank website.  

This complements existing support including the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan Scheme for small and medium sized businesses.