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10
Apr

Update - Coronavirus Job Retention Scheme For Employers

Posted on in COVID-19
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We have been giving you regular updates on the job retention scheme and how it may or may not work.  The Government, as of last night, has now announced more detailed guidance on what information is required to make the claim.

At LBW we want to help you get ready to make your claim under the Coronavirus Job Retention Scheme.

WHAT INFORMATION IS NEEDED?
  1. THE BANK ACCOUNT NUMBER AND SORT CODE YOU’D LIKE US TO USE WHEN WE PAY YOUR CLAIM.
  2. THE NAME AND PHONE NUMBER OF THE PERSON IN YOUR BUSINESS FOR US TO CALL WITH ANY QUESTIONS.
  3. YOUR SELF-ASSESSMENT UTR (UNIQUE TAX REFERENCE), COMPANY UTR (UNIQUE TAX REFERENCE) OR CRN (COMPANY REGISTRATION NUMBER).
  4. THE NAME, EMPLOYEE NUMBER AND NATIONAL INSURANCE NUMBER FOR EACH OF YOUR FURLOUGHED EMPLOYEES.
  5. THE TOTAL AMOUNT BEING CLAIMED FOR ALL EMPLOYEES AND THE TOTAL FURLOUGH PERIOD.
WHAT IF LBW PROCESS MY PAYROLL?

If LBW is an agent who is authorised to act for you for PAYE purposes, LBW will be able to make a claim on your behalf.  We are already working behind the scenes to ensure that if you are eligible and wish to make a claim, that the information will be available once the system goes live.

WHAT IF I PROCESS MY PAYROLL IN HOUSE?

If you are a client of LBW and need help with the information listed in points 1 to 5 above - please do not hesitate to contact us and we will provide support and guidance where possible.

If you have your own online tax account HMRC will email you again in the next few days with more details on how and when to access the online system.  HMRC has asked please do not try to do this until they let you know it is available.

HOW CAN LBW SUPPORT ME IF I AM NOT A CLIENT?

If you are not a client of LBW and require assistance in this matter, or any other, please do not hesitate to get in touch with us via info@lbwaccountants.co.uk and a member of the team will contact you to see how we can assist.

HOW WILL I KNOW WHEN THE SYSTEM GOES LIVE?

LBW will keep you updated of any changes as and when they are released.  

For more detailed guidance from HMRC, please visit GOV.UK. Their guidance is being regularly updated, so please review it frequently.  You may also find this recorded webinar helpful, 'Coronavirus (COVID-19) Job Retention Scheme' available on HMRC’s YouTube channel.

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