Bookkeeping Bites – Job Support Scheme Low-Down!

Dishy-Rishi’s Winter Economic Plan is starting to get broken down into the ‘how much?’ 💷the ‘when?’ ⏰and the ‘what?’ ❓details……..

Today it is about the Job Support Scheme (JSS) – did you know…
🤓 Employees will have to work 33% of their USUAL HOURS?
🤓 The Employers will pay for the ACTUAL HOURS WORKED?
🤓 Big G will then cover 33% of the hours NOT WORKED, to a maximum of £697.22?
🤓 It will run from the 1st November to the 30th April?
🤓 That EMPLOYEES qualify ONLY if they have been included in a Real Time Information (RTI) payroll submission on or before the 23rd September 2020?
🤓 There is no need for the employees to have been previously furloughed?
🤓 If a notice of redundancy has been served to an employee, they are not eligible for the JSS?
🤓 It will apply to all SMALL and MEDIUM sized companies..
🤓 But LARGE companies (perhaps those with more than 250 employees) will have to DEMONSTRATE a DROP IN TURNOVER?
🤓 Employers will have to PAY EMPLOYEES FIRST – THEN CLAIM?
Don’t sound so simple, right? Big G is a-making this a-complicated me thinks!
Even more important that you keep up to date and ask questions if you are not sure… And we are here to help with that…
If you are interested right now in reading a good summary, check out this article from AccountingWeb, it is rather good:
Stay safe everyone 😍😍😍