Have YOU considered Flexible Furlough?

Coronavirus, Payroll,

It’s rare that I pop into our clients’ inboxes more than once a day, BUT I had a conversation with a client today that I thought was important enough for me to do so!

The client I spoke to is a Director of a Limited Company that is seriously quiet as we plod through Lockdown 3. He’s only worked three days since December.

Despite this, he hadn’t considered Flexible Furlough for himself.

Since our conversation, he’s realised that he can put himself onto Flexible Furlough, work very part-time (which is all he has been able to do for several months), and claim a percentage of his Directors salary.

The deadline for claiming Flexible Furlough for January is the 15th February, so if you think it would be an option for you too, there’s no time to lose!

There are some points to note:

  • If your business is really quiet and you can manage to work less hours, or maybe already are, you can claim a proportion of your Directors salary for the time you aren’t working.
  • The claim can only be for a proportion of your Directors Salary, so it’s not going to be very much, but something may be better than nothing at the moment!
  • You’ll need to keep careful records of when you work and when you don’t so that you can provide those to HMRC should they ask any questions around your claim later. You cannot generate income for the business while you are furloughed, so you do need to be careful.
  • You’ll need to make monthly claims by the 15th of each month while you remain on flexible furlough.

My thoughts are that if there is one client out there who hasn’t considered this yet, there are likely to be more!

If you’d like to chat this through, please get in touch. If you use a payroll company, it’s also worth asking them what information they’d need to make a claim on your behalf. They will need as much warning as possible to get this set up for you.

Please remember that 15th February is your deadline for any claim for January!

 

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