29 Oct Minimum Wage and Job Retention Scheme
Job Retention Scheme & Living Wage
Minimum Wage Increase in April 2022
The government announced in the Autumn 2021 Budget that the national living wage for anyone over 23 will rise from £8.91 to £9.50 in April 2022.
You can find the current rates here: https://www.gov.uk/national-minimum-wage-rates
Job Retention Scheme
The Government Job Retention Scheme or Furlough has now finished. The last day to amend claims was the 28th October.
If you’ve claimed too much in CJRS grants and have not already repaid the overclaimed amount, you must let HMRC know and make a repayment online by card or bank transfer. You can find out more here: https://www.gov.uk/guidance/pay-coronavirus-job-retention-scheme-grants-back
You must tell HMRC and repay the money by the latest of whichever date below applies:
- 90 days from receiving the CJRS money you’re not entitled to
- 90 days from the point circumstances changed so that you were no longer entitled to keep the CJRS grant.
If you don’t pay back any over payments you may have to pay interest and a penalty as well.
It is really important that you keep your records for furlough grants and any grants you have received from the government. You must keep all paperwork for six years supporting the grants you claimed in case HMRC contact you regarding an investigation.
Final claims for the Statutory Sick Pay Rebate Scheme
The SSP Rebate Scheme closed on 30 September 2021 and you have until 31 December 2021 to submit any final claims, or to amend claims you have already submitted.
We know all about PAYE, SMP and Holiday pay, its what we do. If you find all the technical terms and constant updates confusing then please get in touch.
Find out how we can help you free up you time to focus on your business. We can manage your payroll function by ensuring we file and report on time and accurately. We can offer digital pay slips or printed – depending on what you would like. Find out more about our payroll services here.
To find our more about how EA Assist can help you please visit our website here or give us a call now on 01379 646943 or email email@example.com.