APH Accountants COVID-19 Business Support Update 13/05/20
Carla here from APH Accountants Wirral and it’s my turn today!
Paul and Matt are busy getting themselves fit and healthy. Needed is what I say! All the takeaways and meals out take their toll over time 😊
Firstly, I would like to start by saying how good does it feel to have a plan from Boris. Even if it may be a slow one it shows we are past the peak and hopefully ready to start to bounce back!
Today I am going to share with you some important updates regarding the following:
1. Employers’ Furlough Scheme
2. Self-employed Income Support Scheme (SEISS)
3. Statutory Sick Pay Rebate Scheme
4. Bounce Back Loan
5. What’s next
6. Help us Help you
So, take 10 minutes and enjoy the read!
We are doing our level best to answer every single query – but if we have missed anything please do get in touch with APH Accountants Wirral. Our contact details are below.
Office Number: 0151 630 4542
Paul White: 0151 556 7247
Helen White: 0151 556 7241
Matt Newman: 0151 556 7246
Carla Ashley: 0151 556 7244
Kerry Roe: 0151 556 7240
Dave Parry: 0151 556 7245
Danielle Levy: 0151 556 7243
Katy Holmes: 0151 556 7249
Lauri Murphy: 0151 556 7248
1. Employers’ Furlough Scheme
HMRC have updated their system to allow claims to be started, saved and submitted at a later date. We are going to make a start on the May claims in this way, so that you will receive your funds around your normal pay date.
If we have made claims on your behalf and you haven’t yet received any funds yet, please let us know and we will investigate this. I know of one client who hasn’t received the funds, two other clients who we are waiting on agent authorisation for and one more client that requires a manual claim making. So keep us in the loop and we will do our best to help.
Further changes and clarification to the scheme where announced on Sunday and Monday and Phase Two of the lockdown detailed those workers who can attempt to go back to work.
If you are affected by any of these changes, or even if you are preparing to get your business ready for release from the lockdown measures then it is extremely important that you update us of any changes to you or your employees.
We will start making furlough claims from Monday 18th May for the entire month of May. So that we do not make an erroneous claim on your behalf, please let us know of anyone to be UNFURLOUGHED before the end of May by Friday 15th May.
If there are no changes then there is NO NEED to contact us and we will continue to make the claim on your behalf. Equally if you are unsure please let us know and we will hang on with submitting your claim until you have more clarity.
It was announced yesterday that Good old Rishi has extended the scheme until the end of October 2020. This will help many of you get your business kick started again. He has said the current rules will remain in place until 31 July 2020 which is currently a one month extension on the existing arrangement.
There will then be flexibility from 1 August 2020 to the 31st October 2020 to enable employees to get back to work part time, even if they have been furloughed. This is a real win for some businesses as social distances measures and other criteria around re-opening your business maybe restrictive for the several months. This will protect more jobs and ease the path back to full operation and profitability in the long run.
They are expecting the employer to pay for the part time wage and the government to top up the non-working days to ensure employees receive the 80% full time furlough pay.
More specific details will be available towards the end of this month so keep your eyes open to our newsletters for further updates.
We remain committed to submitting your furlough claims on your behalf Free of Charge for as long as possible.
2. Self Employed Income Support Scheme (SEISS)
Per our previous newsletters I hope you have checked your eligibility, if not what are you waiting for! Go and check your eligibility and see when you can start your actual claim.
Claims Start Today
Please click on the below link and see if you our eligible.
You will need your Unique Tax Reference number (UTR) and your National Insurance number. They can be found on any correspondence from HMRC or from the Self-assessment return we send out to you or just contact us for your details.
Obviously as you will be aware, we cannot help you with making a claim. However, we are here to help you with the information you require to submit the claim yourself. Please do not hesitate to call or email and we will be happy to help you further.
Don’t forget you need to set up an online government gateway account which is required to make your claim, if you have not already done so click on the link below:
Once you have checked you are eligible it will either say you are, or you are not. If you are not it will be for either of the following reasons:
- You started self-employment after March 2019
- You earned more from other sources of income in 2018/19 than you did from self-employment income
- You ceased trading any time from April 2018 to date
- Your income is more than £50,000
If you are eligible then it will give a date to make the claim, they are staggering the claim process between today 13th May and 18th May.
You should receive the funds within 6 working days from the completion of your claim. So, what are you waiting for! Click the link and get started!
To make your claim you will need to log onto your government gateway account and have the following to hand:
- National Insurance Number
- Bank account number
Once you have logged in you will see information about how your grant has been calculated and asked to complete several declarations and accept the eligibility calculator. Most importantly input your bank details to enable a direct payment!
Please let us know if you have been successful with your claim or if you are having any difficulty.
3. Statutory Sick Pay Rebate Scheme
This is another scheme HMRC have introduced to enable employers to claim back the statutory sick pay they have paid to their employees from 13 March 2020. They will repay up to 2 weeks of sickness
The criteria are:
- The employee had or has Coronavirus
- The employee can not work due to self-isolating at home
- The employee is shielding in line with public health guidance
The scheme is not set up as yet but, in the meantime, if you want to let us know if any of your employees fall into the category above we will be able to make the claim on your behalf. Once we know more, we will of course let you know
4. Bounce Back Loans
The bounce back loan scheme has been a resounding success so far and many clients have used this facility with their banks.
Whilst we don’t actively encourage a loan for a loan’s sake, the terms and conditions and the application process for a bounce back loan are so good that if you haven’t considered it yet then please do so.
If you would like to talk to one of us before applying for a bounce back loan or if you are just not sure, then please get in touch to discuss.
5. What’s Next?
Times are tough and they will remain tough for a while longer yet, however there is light at the end of the tunnel. The claim process for the Self Employed starts today and this will be the start of the last major financial support package made available by the government.
It’s going to be a good few months of “Back to Business” and a new landscape for us all, some starting sooner than others, some will feel the impact for longer than others.
We will continue to support all clients for as long as we can and continue to update you with any changes. Hopefully future Newsletters will include tips and advice on bouncing back and focus on re-establishing our businesses.
6. Help us Help you
- If you know anyone looking for a Wirral Accountant or further afield please recommend us
- Please like and share our business page on Facebook https://www.facebook.com/APHAccountants/
- Please visit our website at www.aphaccountants.co.uk and have a look round – put names to faces if need be on our meet the team page
- Refer us to someone else you know in business whose Accountant seems to have gone AWOL during Covid-19
- If you have not done so already, please leave us a review on Facebook or Google
If you can do any of the above that will really help us to stay strong and enable us to continue to help you!
Finally, we will as always try to keep you up to date with all the latest help and support for you and your business. If you need us for anything, please do not hesitate to contact APH Accountants Wirral
“Be patient. Things will change for the better.”
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Call APH Accountants Wirral on 0151 630 4542