For those of you that have furloughed your staff, the portal for claiming the grant support from HMRC will be live on Monday (20th) April. We are going to find out then exactly what information and in what format is required. I have cleared my calendar to support our clients through this process. Expect an e-mail from me mid-morning on Monday the government has beta-tested the system for accepting 450,000 claims per hour, so fingers crossed all will go smoothly.
The grants are expected to be paid on 30th April or thereabouts.
We are preparing now the information to submit, so are confident that we will be claims in on Monday, if the system holds out.
We will be claiming for the month of April and part of March, where applicable. (all weekly, bi-weekly and monthly – backdated).
Moving forward, claims can be made within 14 days of future payrolls and will be paid within 4-6 days of applying.
We have confirmed that either you (the client) or us (the agents) have access to PAYE online for our clients and have all the necessary information required.
You’re in safe hands. Jan and I are on it.
Just a quick note on the Small Business Rates Grants (and retail and hospitality grants) to say that these are starting to hit clients accounts now. If you have not had a letter or been in correspondence with your local council, and believe that you are due a grant, check the council web-site and/or contact them to see what’s what.
CBILS loan scheme – is turning out to be a bad joke. Banks started by requesting personal guarantees from business owners until they were asked to stop that. Now they are ramping up interest rates to claw back the savings on the initial 12-mth interest free period.
If you need access to short term funding, please shop around as a smaller lender like Funding Circle may be cheaper even though its not part of the CBILS scheme.
What else? Just keep going. Keep pushing. If you’re not in a position to run your business as normal right now, then keep working on laying the foundations for when this all passes. It’s an unexpected opportunity for many business owners to do some work ON the business, while they can’t work IN the business.
Stay safe. Stay in touch.