HMRC portal available by the end of April
Michael Chadwick, founding Director at Chadwick & Company, gives further details about the Job Retention Scheme.
The most frequent enquiries we have received from clients during this unprecedented period have been the simple questions of ‘what do we need in order to claim the job subsidy’ and ‘when can we expect the money to be made available?’
To answer the second point, the position is quite clear: the UK Government have confirmed their expectation that all software necessary to make the claim should be available by the end of this month. This is quite a complex operation and we can understand why it is taking a few weeks. Automatic checks will be needed in the system to minimise fraud and HMRC will be creating a specific portal linked to your PAYE reference with this in mind.
Information needed to claim
As for the specific pieces of information required, I set out the approved list below. There should be nothing onerous about collating these details and there is no reason why you should not start the process now.
To claim, you will need:
- your ePAYE reference number
- the number of employees being furloughed
- the claim period (start and end date)
- amount claimed (per the minimum length of furloughing of three consecutive weeks)
- your bank account number and sort code
- your contact name
- your phone number.
Calculating your claim
We will assist in calculating the amount of your claim, but HMRC will retain the right to retrospectively audit all aspects of your submission.
Claims can be backdated until the 1 March, where employees have already been furloughed.
If you intend to only pay the furlough minimum of 80%, you should ensure your payroll operator reduces the gross pay. This adjustment will not be made by HMRC.
Here at Chadwick & Company, the process will be operated and monitored by our Tax Department, who will liaise with our Payroll Department where necessary.