03.09.2020: Autumn Update
Happy September! I am sure you are all feeling the same as me, where has the last 8 months gone. Even though we have spent most of our time indoors, the time has still flown by. I really hope you are all starting to see some normality resume and business picking up.
We've waited for nearly 2 months for further guidance on this scheme and now HMRC have finally issued the process, I am sure a few of you will be disappointed to know that direct applications cannot be made for any business looking to make less than 30 job placements. You can however group together with other small employees and make a joint application, this requires a representative to be nominated and the applications are made through them. Your local authority, chamber of commerce or trade body should be able to help find a representative or become a representative so that small businesses can apply together.
Any employer is eligible for the scheme though, the position(s) created should be a new position(s) that would not have been available otherwise and must not take employment or hours away from an existing employee or contractor.
The successful applications must be aged 16-24 and currently claiming universal credits, The Department for Work & Pensions (DWP) will select the applicants and referrals will be made from the Job Centre. Roles must for a minimum of 25 hours per week, attract at least minimum wage for their age group and not require extensive training before the commencement of the placement.
The hope of the Government in this scheme is that you will continue to employ the person after their 6 months, thereby easing the Universal Credit system.
I know this will be disappointing to a few clients that have expressed interest in this scheme, however I am sure there will be lots of representatives available in the coming weeks that small employers will be able to sign up with.
Just a reminder to employers still using the Furlough scheme that from 1st September 2020 the amount that the Government will repay is 70% of your employee's usual wage up to a £2,187.50 per month. From 1st October, this amount will reduce further to 60% of your employee's usual wage up to £1,875.00 per month.
We are now phasing back into the office in Greenwich and expect to be back to full working office hours by 1st October 2020, we are also welcoming back client visits but must ask for a stick appointment policy to avoid too many people in the office at once. I am looking forward to seeing and visiting clients again, been far too long!
A new team member will be joining us from Monday 7th September 2020, Stacy Hall. Stacy is a part time trainee bookkeeper so will be in touch for information requests I am sure.
We are also looking for a full time Assistant Accountant to join the team ASAP, the successful applicant will be AAT qualified as a minimum with experience in a small practice or business covering all aspects of the accounting functions. If you know of anyone that your are happy to recommend, then please do let know!
Should you have any further questions or require any further assistance after this updated then please do get in contact with us where we will endeavour to assist as much as possible.