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Latest Government Updates for Job Retention Scheme

The call from The Federation of Small Businesses (FSB) came as it reported two-thirds of respondents to a survey said their operating costs had risen over the past year. A small business lobby group is urging the UK government to cut national insurance contributions. The National roll-out of the new u00a3100 spending limit for contactless card payments. Employers carrying out right to work checks will be able to continue doing them digitally until April 5, 2022 following updated government guidance.

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Latest Government Updates for Job Retention Scheme

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  1. CUT IN NICS | CONTACTLESS LIMIT | EXTENDS DIGITAL RIGHT Morgan Reach

  2. NATIONAL INSURANCE CONTRIBUTIONS • National Insurance is a fundamental component of the welfare state in the United Kingdom. • It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their families. https://morganreach.com

  3. CUT IN NICs • A small business lobby group is urging the UK government to cut national insurance contributions to ease cost pressures on employers. • The FSB reported two-thirds of respondents to a survey said their operating costs had risen over the past year. • FSB Chair also calls for SME Brexit Support Fund to be revamped and relaunched. https://morganreach.com

  4. NATIONAL INSURANCE RATES AND CATEGORIES • An employee’s Class 1 National Insurance is made up of contributions: • Deducted from their pay (employee’s National Insurance) • Paid by their employer (employer’s National Insurance) • The amounts deducted and paid depend on: • The employee’s National Insurance category letter • How much of the employee’s earnings falls within each band https://morganreach.com

  5. INCREASE IN CONTACTLESS LIMIT • The roll out will give customers more flexibility when shopping in store. • For consumers spending more than £100, payments like Apple Pay or Google Pay do not have an upper limit. • The national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021, UK Finance announces today. https://morganreach.com

  6. DIGITAL RIGHT TO WORK CHECKS • Physical checks were due to be reintroduced on June 21 this year. • Checks can be carried out using scans of the original documents and video call up to April 2022. • Employers carrying out right to work checks will be able to continue doing them digitally until April 5, 2022 following updated government guidance. https://morganreach.com

  7. PREPARING FOR CLOSURE OF THE JOB RETENTION SCHEME • The Job Retention Scheme is the Government’s support measure for employers and businesses, covering a percentage of salary for staff who are temporarily not working in the current situation. All employers can obtain grants from HMRC. • CJRS claims for August can now be submitted and must be made by Tuesday, September 14. • The deadline to amend any claims for August is September 28. https://morganreach.com

  8. Contact Morgan Reach Phone 0121 236 0777 Email info@morganreach.com Website https://morganreach.com

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