Everyone at Strain Keville sends their very best wishes to everybody in these unprecedented and extraordinary times.
As has been said on countless occasions, the Country and indeed the World as a whole is battling a pandemic on a scale never before seen in modern history, the social and economic ramifications of which have touched the lives of each and every one of us.
In these circumstances, which were unimaginable only a few short weeks ago, it is only natural for each of us to consider how the measures which have been put in place by the Government to ensure our safety will ultimately affect our employment or the impacts on our businesses.
How is the government helping? 80% support for employees
With takings in a number of sectors across the Country falling dramatically and with businesses doing less and less trade, the questions at the back of most people’s minds focus on their income, wages and whether they would be able to make ends in meet.
On Friday 20th March 2020, the Chancellor of the Exchequer, Rishi Sunak MP, made a historic announcement that the Government would step in and pay up to 80% of the wages for staff who are unable to work as a result of the Coronavirus pandemic.
The measures would be run through HMRC and the PAYE system and would pay up to 80% of the wages for staff who remain employed throughout this crisis, up to a maximum of £2,500.00 per month per employee.
The scheme will last for a period of three months (although the Chancellor has indicated the Treasury would extend this scheme for as long as was necessary) and will apply to an employee’s gross pay. It will also be back dated to 1st March 2020 and will apply to businesses who have already had to let some of their employees go, provided these employees are brought back into the business.
When will the scheme kick in?
The first payments out of this Scheme are expected, to quote the Treasury, “within weeks” and further details of the Scheme are expected to be published shortly, including details on the application process.
Whilst this Scheme does not completely elevate the economic and commercial fears of many employers and employees, it should provide some much wanted relief in these most challenging of times.
The Chancellor also introduced a series of measures designed to lift the pressure businesses in light of falling revenues which our Commercial Team have analysed in an article soon to be published – keep in touch and we’ll keep you posted.
How can we help?
We understand that the pressures and anxieties businesses and their employees are facing at this time and our Employment Department here at Strain Keville are more than happy to assist in any way we can during these testing times.
If we can be of any assistance, either with the Scheme mentioned above or any other employment related issues, please do not hesitate to contact Matthew Strain (firstname.lastname@example.org) or Adam Jones (email@example.com).
Finally, we wish all of you good health and look forward to the return of our normal day to day routines sooner rather than later. Stay Safe!