Latest update for businesses

Two Government support schemes to help businesses deal with the impact that the Covid-19 pandemic is having have opened for application today, Monday 20th April.

1. Coronavirus Job Retention Scheme – This scheme, administered by HMRC, allows businesses to claim for 80% of an employee’s salary up to a £2.500 monthly maximum if they have been put on furlough because of COVID-19.

Claims can be made on the HMRC website which can be accessed here. 

2. £25,000 Retail, Hospitality, Tourism and Leisure Grant Scheme

A grant of £25,000 is being made available to businesses in the retail, hospitality, tourism and leisure sectors who have a rateable value of between £15,0001 and £51,000 by the Northern Ireland Executive.  More information about eligibility and a link to the application form can be found here.

Furlough scheme cut-off date extended to 19 March

The government announced on 15 April that the eligibility date for employees to receive support through the Coronavirus Job Retention Scheme has been extended to 19 March 2020.

The scheme enable employers to claim a grant covering 80% of the wages for a furloughed employee, subject to a cap of £2,500 a month. Employers can claim for furloughed employees that were employed and on their PAYE payroll on or before 19 March 2020

The scheme should be fully operational week commencing 20 April 2020.

For further information click here.

Chancellor extends loan scheme for large businesses

The Chancellor has announced that he will extend the Coronavirus Business Interruption Loan Scheme to include larger businesses who had previously been unable to access support. For further information click here.

Guide for applying for Coronavirus Job Retention Scheme

NIBusinessinfo has created a step by step guide for those businesses eligible to apply for a Claim under the Coronavirus Job Retention Scheme. For further information click here.