Isle of Wight business urged to access funds for furloughed staff

The scheme where employers can claim a cash grant covering up to 80 per cent of the wages for a furloughed employee goes live today

fifty pound note

Government funds for businesses who have furloughed staff can be accessed from today – and MP Bob Seely says it’s important that Island businesses are the first in the queue.

From today (Monday 20th April), the Government’s Coronavirus Job Retention Scheme – where employers can claim a cash grant covering up to 80 per cent of the wages for a furloughed employee up to a cap of £2,500 a month – becomes live via an online portal.

Bob said:

“From today Island businesses can apply for Government cash via an online portal.

“I want to make sure that Island businesses are the first in the queue for this cash, which can take up to six working days to appear in company bank accounts.

“It’s good that this scheme has opened ten days ahead of schedule. I know businesses here need funds right now and I’m glad the Government has been able to get this scheme up and running quickly – given the current circumstances.

“This money is absolutely vital in the fight to keep our businesses – and our Island – going. We need to keep Islanders in employment to avoid further problems and get our economy back on track as quickly as possible after lockdown lifts.”

Step-by-step application process
HMRC’s portal has a step by step application process and up to 5,000 staff will be manning phone lines and webchat services to ensure any questions can be answered.

Employers can furlough anyone they employ, provided that on or before March 19 they were on PAYE payroll and HMRC has been notified of payment via the RTI system.

The link to the online portal can be found here

More information about government support for businesses can be found here.

Government Covid-19 guidance: Stay alert and stay safe
Wash your hands thoroughly and frequently (video tips).

Social distancing
It is recommended that you maintain at least a two metre gap (about 6.5ft) from people who are not from your household.

Seeking advice
Use the NHS 111 online coronavirus service that can tell if you need medical help and advise you what to do.

News shared from the office of Bob Seely. Ed

Image: Images Money under CC BY 2.0

Monday, 20th April, 2020 10:51am



Filed under: Business, Government, Isle of Wight News, Top story

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