Coronavirus Statutory Sick Pay Rebates / Economic Resilience

HMRC have now opened up their Statutory Sick Pay (SSP) rebate claim service. Eligible employers are able to recoup up to two weeks’ worth of SSP payments made to employees off work for coronavirus related reasons since 13 March 2020 (16 March 2020 if the employee was shielding). This is an ongoing scheme for which an end date has not yet been published.

 

This is potentially worth up to £191.70 per employee that you have made SSP payments to for coronavirus related reasons.

 

For the purposes of making a claim, it doesn’t matter whether the employee was displaying symptoms themselves or was living with someone who was displaying symptoms. It also doesn’t matter whether you topped up their earnings (although only the SSP element is eligible for the rebate).

 

A rebate cannot however be claimed in relation to employees who were furloughed at the time of illness/absence and for whom the separate Coronavirus Job Retention Scheme grant was claimed.

 

You will be eligible for a SSP rebate if you had a PAYE Scheme as at 28 February 2020 and (along with any connected employer) employed fewer than 250 employees as at that date. You must also be within your state aid limits under the EU Commission temporary framework.

 

You can find out more and submit a claim on this webpage - www.gov.uk/guidance/claim-back-statutory-sick-pay-paid-to-employees-due-to-coronavirus-covid-19.

 

The second phase of the Economic Resilience Fund (ERF) will open in Wales next month - with non-VAT firms able to apply.

Now Economy minister Ken Skates says the second phase of the scheme will reopen in mid-June.

Non-VAT firms will now be able to apply while Mr Skates said he was working with local authorities about getting support to start-ups.

Mr Skates said: "On 27 April, we paused the Economic Resilience Fund to give us an opportunity to consider where further support could make the biggest impact.

We are finalising the details on the next phase of the Economic Resilience Fund. 

"I expect to re-open the Economic Resilience Fund eligibility checker for new applications by the middle of June, allowing companies time to prepare their applications. Following that, I expect to open for full applications later in the month. 

"This will enable access to the remaining £100m of the £300m already approved and allocated to support micro businesses, small and medium enterprises and large businesses.

"In terms of eligibility, Phase 2 of the Fund will operate in the same way as Phase 1 but with an update to the micro scheme. 

"This will enable limited companies who are not VAT registered to access the Fund, something which so many small businesses have been calling for. 

Coronavirus 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 fund will be delivered in partnership with the British Business Bank.

You’re eligible if your business:

· is based in the UK

· can attract the equivalent match funding from third-party private investors and institutions

· has previously raised at least £250,000 in equity investment from third-party investors in the last 5 years

The fund will open to applications on 20 May 2020, please visit the GOV.UK website for further details.

More detailed guidance is available on the British Business Bank website.

 

We hope this information helps you and we are here for you during this difficult time. We will continue to keep you updated as the Government releases new information. 

 

Kind regards,

Williams Denton