Getting Ready For The Coronavirus Job Retention Scheme
Have you got your furlough agreements ready?
POSTED BY ROGER EDDOWES ON 16/04/2020 @ 8:00AM
With the Coronavirus Job Retention Scheme opening for applications on 20th April, I wanted to make sure you had all the information you needed to get your application in and processed quickly and efficiently .. ...
Ensure you have all the right information to hand before making your application to the Coronavirus Job Retention Scheme!
copyright: chrisdorney / 123rf
If your business is eligible for the CJRS and you have furloughed some or all of your employees then you'll need to have the following information when you make your application:
The bank account and sort code you'd like the payment made to
The name and phone number of the person HMRC can call with any questions they may have
Your Self-Assessment Unique Tax Reference (UTR), the company's own UTR or Company Registration Number
The name, employee number and National Insurance number for each of your furloughed employees
The total amount being claimed for all employees and the total furlough period
If you are working with an agent who is authorised to act for you on PAYE matters, they will be able to make the claim for you via the Government Gateway, but if you use a file-only agent (files your RTI return, but doesn’t act for you in other matters), they won’t be able to make the claim, so you’ll need the information listed above to make the claim yourself.
I would add that if Essendon Accounts & Tax processes your PAYE and you want us to make the application for you (which we're happy to do) then we will need a copy of each employee's furlough agreement so we can be sure who we're making the claim for and who is still in employment with you.
"Keep hold of those furlough agreements!
HMRC has made it clear that you should keep them for a minimum of five years, although I do wonder how long is it really going to take for HMRC to check up on each and every application.
Until next time ...
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more about coronavirus job retention scheme, call me on 01908 774320, leave a comment below or click here to ping over an email and let's see how the Business Godparent can help you.
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About Roger Eddowes ...
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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