Information on the Job Support Scheme is sketchy to say the least. The scheme was only announced yesterday and the Factsheet issued by HMRC shortly afterwards is relatively short (four pages). It refers to further guidance to follow.
If you want to read the factsheet it can be accessed here – Job Support Info
The scheme doesn’t start until November so there is plenty of time to evaluate it, assuming the detailed guidance is issued reasonably soon. Our first thoughts are that it isn’t going to be much help to a lot of employers – possibly you.
One point which is fairly obvious is the statement that the grant will not cover NI (National Insurance) or Pension contributions. This means that you, as an employer, will need to pay these (potentially 16.8%) not only on your top-up but also on the government’s top-up, greatly reducing the value of the amount the government is contributing.
As more information is available we will be discussing the options with our payroll clients to determine where, and if, the scheme will be of benefit.
As always, our own clients will be prioritised but we will try to help anyone else with queries – particularly if you process your own payroll. Give us a call today – 01509 816150 or send us an email – firstname.lastname@example.org – or use the form below.
Of course, we will be pleased to discuss your payroll (and CIS) needs should you want a professional, friendly, helpful – and local service