Coronavirus Job Retention Scheme

The UK Government is asking businesspeople like you not to get rid of your employees during the Coronavirus crisis.

On 20^th March 2020, The UK Government announced an initiative to help businesses like yours affected by the Coronavirus to pay partially your employees.  

Who is eligible?

All UK businesses ( only employers )

How does it work ? 

Follow the 4 steps below :

1)First you need to notify your employees that they will become ‘furloughed workers ’. 

2) Send us an email ( payroll@verticeservices.com ) to Adriana Dogaru responsible for Vertice Services payroll department to notify us which employees you chose to become ‘furloughed workers’.

3) Vertice Services payroll department will submit the forms to HMRC about your ‘furloughed workers’.

4) You will be refunded 80 % of the total salary paid to your ‘furloughed workers’. ( there is a cap of £ 2,500 /employee/month).

How long will it last the initiative ? 

Initially the initiative is running for 3 months ( from 1^st March 2020). It can be extended if necessary. The first payment is already  expected to be made in April 2020.

Follow below a few important  observations :

1. The payment of the other 20 % of your ‘furloughed workers’ salary is not compulsory. You as an employer needs to decide if you want to pay or not.
2. Your employees who will become ‘furloughed workers ’ can not undertake work for you while they are furloughed.
3. If your employee’s salary will be reduced as a consequence to become furloughed, they may also be eligible for support through the welfare system ( including Universal Credit ).
4. We still don’t know if limited company’ directors will be allowed to participate  this scheme. Once we clarify this issue, we will communicate all company directors. In my opinion,  if the company has only one director it will probably not be able to make the director a ‘furloughed workers’ . How can you run the company without the director ?
5. Don’t try to cheat the system by adding people who were not your employees before this initiative ( before 1^st March 2020) or individuals who have been working for your as a subcontractor. HMRC will probably check these payments to see if they are genuine and taking money out of the UK Government illegally is a crime and you can face criminal prosecution and finally enjoy your time after the Coronavirus behind the bars. 

How much will it cost you ?

We will charge  £ 150 per month ( up to 5 employees), £ 200 per month( more than 5 but less than 10 employees), £ 250 ( more than 10 but less than 20 employees), £ 300 per month ( more than 20 employees) per employer to assist you fill in  the forms, submit it and getting your refund successfully.

IE : The information above is subject to change without notice and is provided for information only. Once UK government releases more guidance, we will update you.