The ongoing coronavirus crisis is impacting all areas of life and this includes financial services. There are a lot of issues that businesses and other organisations will need to consider over the coming weeks and months. Here we will look at some of the most important areas and how they are being affected by COVID-19.
You can claim back a maximum of 80% of your furloughed employees wages, up to a maximum of £2,500 per month, plus associated National Insurance and pension contributions, via the Government’s Job Retention Scheme online service. You will need a number of details, including your employer PAYE scheme reference number and each employee’s National Insurance number. You will also need to work out the full amount you’re claiming for including employer National Insurance contributions and employer minimum pension contributions. Find out more.
It doesn’t matter what type of business you have, or what industry you are a part of - coronavirus is going to hit everyone hard over the coming months. Keeping your business up and running throughout will require forward planning, and a better understanding of how this crisis is likely to play out.