We're Hiring!

Furlough scheme update

The Coronavirus Job Retention Scheme (CJRS) – better known as the furlough scheme – will be extended until 2 December 2020 following the announcement of a new national lockdown.

The extension is on better terms for employers as it reverts to its original status when the Government paid for 80% of furloughed workers’ wages, up to £2,500 a month, with businesses asked to cover only National Insurance (NI) and employer pension contributions.

There’s better news for the self-employed too. For the month of November, there will be a major uplift in the Self-Employment Income Support Scheme (SEISS) to 80 per cent of an individual’s average trading profits. For December and January, the SEISS level will be 40 per cent.

Over the three-month period, the rate is now 55% (compared to 20% when it was launched) and the maximum grant that can be claimed will be £5,160. Payments will also be made more quickly with the claims window being brought forward two weeks, from 14 December to 30 November.

To be eligible for the CJRS furlough extension, employees must have been on the payroll by October 30 2020 but they don’t need to have been furloughed before.

Since July, employers have been able to bring back employees part-time, and furlough them for the rest. This will continue. Employers are still able to choose to top up employee wages above the scheme grant at their own expense.

Business grants
Businesses required to close in England due to local or national restrictions will be eligible for the following:
• For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
• For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
• For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

The Government will also give firms:

• £1,000 for every furloughed employee kept on until at least the end of January
• £1,500 for every out-of-work 16-24 year-old given a ”high quality” six-month work placement
• £2,000 for every under-25 apprentice taken on until the end of January, or £1,500 for over-25s.

Mortgage holidays
Mortgage payment holidays have been extended. Borrowers who have been impacted by coronavirus and have not yet had a mortgage payment holiday will be entitled to a six-month holiday, and those that have already started a mortgage payment holiday will be able to extend it to six months without this being shown on their credit file.


Awards & Affiliations

Client Testimonials
  • I always get quick, clear and definitive responses from the Harwood Hutton tax team – commercial answers to commercial issues.

    Robin Berry – Morgan Management
  • Right from the outset Harwood Hutton gave us direction and great advice – and that advice has evolved over the years as we’ve grown. We’re both medium-sized companies providing a bespoke service – one furniture, one accountancy – and the relationship works.

    Andy McCarron, McCarron and Co
  • I’m deeply impressed with Harwood Hutton’s extensive knowledge of tax arrangements for residential and commercial property landlords.

    Qadeer Ahmed, MD, ABA Finance
  • They really took their time to understand what was important to us and our business and the expertise we required. Whoever we speak to at HH, we get the same fantastic response and technical input. It’s a real partnership.

    Edward Finch, group MD, MRIB insurance brokers
  • I have worked with the directors at Harwood Hutton on a number of mutual client matters over many years. The reassurance of their clear, commercial and focussed advice is one of the main reasons I regard this as one of my most valuable professional relationships.

    Frank Wessely, Partner, Quantuma LLP
  • Harwood Hutton never seem to rest on their laurels. They are always seeking out new avenues and ways to improve their offering. A very forward-thinking company with staff who are always well briefed and who approach each task with drive.

    Karl Austen, MD, Surefoot Communications
  • We have engaged Harwood Hutton in several areas of structuring, including VAT issues, decoupling an SPV from a group structure and HMRC clearance for a transaction. The team have exceeded all expectations by being proactive, measured and very thorough.

    Adam Fawsitt, Director, FHT Limited
  • We moved to Harwood Hutton as they delivered a succinct and professional proposal. If anything, we have been more impressed post-move. They are a fantastic company to work with. They do truly differentiate. They have the skills and capabilities of a mega firm but with a personal service.

    Edward Finch, group MD, MRIB insurance brokers
Sign up to our Newsletter

Sign up to our Newsletter

newletter image

Newsletter sign up

Join our mailing list to receive important news and insights for business leaders and private individuals