Amid the ongoing challenges of the COVID-19 pandemic, financial support has been a critical lifeline for businesses and employees. At People Matters HR, we provide up-to-date information and guidance on the COVID-19 financial support measures that have played a pivotal role during these times.
Staff Retention Scheme update 24th March 2020
As I’m sure you’re aware, things change daily. Getting precise information from ACAS, HMRC, CIPD, or the Government is challenging.
However, there’s no clarity about the 80% salary payment. The terminology is reimbursement or grant. You may need to claim it later.
Monthly paid staff paid in March won’t see the effect until the end of April, when the portal should be up and working.
Again, if it’s a grant or reimbursement at least in the first month you will pay April salary and then get it back. I have updated the Furlough letter to reflect that.
If you are not trading this could cause hardship, particularly if you have weekly paid staff. You can use the Government help to alleviate this, i.e. Business Rates grants, Coronavirus Interruption scheme and VAT deferral.
Another option is to consider laying off your staff, if their contract permits. Pay them £145 guarantee pay (pro-rata), add them to the Furlough list, and pay them the 80% once it’s received.
As I have said, we do not know how the portal will work, how you will be reimbursed and how this works with payroll. We’re working to provide updates promptly, but keep in mind that the situation remains fluid.
Stay Safe
Niel, Yvonne, Sam, Jen and Alex. We are People Matters because your people Matter.