Give us your details and we’ll be in touch asap

Insights

All Articles

Business Services

Business Tax

Personal tax

Probate and Inheritance Tax

VAT

Business Services  •  Coronavirus Advice  •  Payroll Tax  •  Small Business

Furlough Scheme Warning – Don’t double-count employers’ NICs!

By RJP LLP on 11 May, 2020

When completing your applications for the Coronavirus Job Retention Scheme you will be including the cost of the employers’ NICs for furloughed employees in your claim.

However you need to be careful that you are not claiming employers’ NICs that have already been covered by the government.

This applies to all businesses that pay less than £100,000 in NICs each year who can apply for relief of up to £4,000; care needs to be taken to ensure that you are not claiming a refund of employers’ NICs under the furlough scheme that are also covered by this refund scheme.

Currently HMRC are paying furlough scheme claims without checking them, but any inadvertent overclaims will be discovered later and will need to be repaid.

Although HMRC are currently working on a process for claims to be amended after submission where errors have been made, it is probably better not to be faced with any unexpected bills at such a difficult time!

Read more articles like this

Summer Budget 2020 Update

Furlough Scheme Fraud

The Updated Furlough Scheme – claims for June and July 2020

Case update: New ruling over tax relief and SIPPs

Extension to the self employment support scheme

Share this:

All Articles

Business Services

Business Tax

Personal tax

Probate and Inheritance Tax

VAT

Image

31 July 2020 - Normally an important deadline!

All taxpayers due to make self-assessment tax payments on 31 July 2020 can now delay their payment due to the disruption caused by Coronavirus. This includes self-employed taxpayers and also company directors who pay self-assessment tax on dividend income.

Read more in our coverage of Coronavirus and business support from the Government.