The Job Retention Scheme portal is set to go live on Monday allegedly however BE AWARE:
On an update this morning our Finance Specialist in contact with HMRC had the following thoughts:
1. We reckon about 8Million employees have been furloughed, HMRC say the portal can cope with 450,000 claims per day so immediate pressure apparent.
2. HMRC verbal advice seems to be on Monday:on or around Monday: week commencing Monday and various other alternatives.
3. Payments are anticipated from end April but given the above scenarios we are strongly recommending clients work toward any funding not being available until
7th to 14th May earliest.
If this means missing payroll etc then PLEASE PLEASE invoke PLAN B now and if you want to talk call 01479 812211 but you may need to talk to your bank in terms of an overdraft or overdraft extension as CBILS may not be there for you.