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22 Mar 2024

Rob Brown, co-director of Dalby Forest Cycle Hub, a not-for-profit hire scheme has been nominated for the Tourism Superstar 2024 award, run by VisitEngland.

8 Mar 2024

Daniel Blackham, editor of industry magazine BikeBiz, has been writing about his experience of completing the Cytech technical one qualification at training provider Spokes People in Milton...

6 Mar 2024

Cytech partner Activate Cycle Academy, the largest and most recognised training provider of bike maintenance and technical training courses to the UK’s cycle industry, recently welcomed a...

2 Jan 2024

Hudjo is the first online marketplace that lets cyclists park with locals, which relieves the anxiety of parking your bike. 

19 Dec 2023

Bira's CEO, Andrew Goodacre, took the spotlight on BBC Breakfast this week and later spoke with Nicky Campbell on BBC Radio 5 Live, shedding light on the rise in retail crime and shop theft,...

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government...

9 Nov 2023

Cytech has been named as the provider of Best Retailer Services in the 2023 BikeBiz Awards, recognising the positive impact of its service to the cycling industry. More than 25,000 Cytech...

2 Nov 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, has relaunched its Cytech theory one online learning course delivering an introduction to...

4 Oct 2023

Shop owners have called on the Home Secretary to specifically outlaw attacks on retail workers.

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Coronavirus Job Retention Scheme guidance

Posted on in Business News , Cycles News , Political News

The new guidance for the Coronavirus Job Retention Scheme was published yesterday evening.

The temporary scheme is open to all UK employers for at least three months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19).

The scheme is open to all UK employers that had created and started a PAYE payroll scheme on 28 February 2020. The scheme will cover the cost of wages backdated to 1 March 2020, if applicable.

HMRC are aiming to have the scheme up and running by the end of April 2020. More detailed guidance will be published in due course.

 

Work out what you can claim

Employers need to make a claim for wage costs through this scheme.

You will receive a grant from HMRC to cover the lower of 80% of an employee's regular wage or £2,500 per month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that subsidised wage. Fees, commission and bonuses should not be included.

At a minimum, employers must pay their employee the lower of 80% of their regular wage or £2,500 per month. An employer can also choose to top up an employee's salary beyond this but is not obliged to under this scheme.

 

How to make a claim

Employers should discuss with their staff and make any changes to the employment contract by agreement. Employers may need to seek legal advice on the process. If sufficient numbers of staff are involved, it may be necessary to engage collective consultation processes to procure agreement to changes to terms of employment.

To claim, you will need:

  • your ePAYE reference number
  • the number of employees being furloughed
  • the claim period (start and end date)
  • amount claimed (per the minimum length of furloughing of 3 weeks)
  • your bank account number and sort code
  • your contact name
  • your phone number
  • You will need to calculate the amount you are claiming. HMRC will retain the right to retrospectively audit all aspects of your claim.

We will issue more guidance on how employers should calculate their claims for Employer National Insurance Contributions and minimum automatic enrolment employer pension contributions, before the scheme becomes live.

The Guidance for employers is available on the Government website here.

You may also find the guidance for employees helpful, which enables employees to find out if their employer is eligible, and how much they can claim if they're unable to operate or have no work for employees to do because of coronavirus (COVID-19). 

 

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