Guidance for British Luxury Businesses – Update on furloughing employees and HMRC’s PAYE online services account
Here we share official guidance surrounding the financial support available for British luxury businesses from the UK government and also and wider guidance on topics and issues relevant to the Coronavirus outbreak. Today, an update on claiming for furloughed employees and the importance of being registered for HMRC’s PAYE online services account.
Under the Coronavirus Job Retention Scheme (JRS), all UK employers with a PAYE scheme that was created and started on or before 28 February 2020, will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to employees who have been asked to stop working, but who are being kept on the pay roll, otherwise described as ‘furloughed workers’.
The latest information published by the Government on the JRS points out that employers need to have an HMRC PAYE online services account to make their claims for financial grants relating to furloughed employees when the online portal is launched at the end of April 2020.
It is anticipated that there will be significant delays to claims if businesses are not already registered for HMRC’s PAYE online services.
The following fact sheet written by accountants Moore Kingston Smith provides step-by-step instructions on how to make sure your business is registered: