And just in case you missed the announcement last week, the CJRS scheme has been extended for a further month – to the end of June 2020. Claims are therefore available for a potential four months, from 1 March 2020 to 30 June 2020.

Early indications seem to be mixed, but those who have managed to login to the portal have found the process fairly straight forward.

If you are encountering problems, there is an HMRC helpline. Apparently, 5000 HMRC staff will be manning the phone lines, but as there are many more businesses that are likely to be making claims expect holding delays if you need to call.

For those in need, the information you will need to make a claim is:

1. The number of employees being furloughed
2. The dates employees have been furloughed to and from
3. Details of employees – the name and National Insurance Number of each furloughed employee
4. Your employer PAYE scheme reference number
5. Your Corporation Tax Unique Taxpayer Reference, Self-Assessment Unique Taxpayer Reference, or Company Registration Number as appropriate for your entity
6. Your UK bank account details
7. Your organisation’s registered name
8. Your organisation’s address

You should make sure you have this information ready before you access the system to make a claim.

Also announced today:

Government Future Fund

The Future Fund will provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.

These convertible loans may be a suitable option for businesses that rely on equity investment and are unable to access the Coronavirus Business Interruption Loan Scheme.

The scheme will be delivered in partnership with the British Business Bank.

You are eligible If:

• your business is based in the UK
• your business can attract the equivalent match funding from third party private investors and institutions
• your business has previously raised at least £250,000 in equity investment from third party investors in the last 5 years

The Future Fund will launch in May 2020. Further details about this scheme will be published in due course.

If you need advice regarding the scheme contact the team at Culley Lifford Hall on 01543 401184 they are working remotely but will get back to you as soon as possible.