HELP FOR TENANTS FROM THE GOVERNMENT
INFORMATION FROM BOND HOUSING GROUP- PLEASE STILL OBTAIN INDEPENDENT PROFESSIONAL ADVICE (BELIEVED CORRECT AS AT 28 MARCH 2020)
If your employer has sent you home but has not terminated your employment your employer can use FURLOUGH LEAVE to keep you on as an employee and claim 80% of your wages (to a max of £2,500 per month) which they are obliged to pay to you . PLEASE ASK YOUR EMPLOYER TO USE THIS SCHEME. You can benefit from this scheme even if you are presently on Statutory Sick Pay due to self Isolating (SSP) – once your isolation period has ended (typically 14 days).
If you were made redundant anytime after 28 February and before your employer knew about the scheme, your employer can re employ you and put you on FURLOUGH LEAVE.
If have two jobs you can be put on FURLOUGH LEAVE by one employer and continue to work for another. If you’re put on furlough by more than one employer, you’ll receive separate payments from each employer. The 80% of your normal wage up to a £2,500 monthly cap applies to each job.
Your employer will get a grant to cover 80% of your monthly earnings, up to a maximum of £2,500. Employers will be eligible for the grant once you have been Furloughed, from 1 March. Your employer:
will pay you at least 80% of your usual monthly earnings, up to a maximum of £2,500, as your wage
can claim for a minimum of 3 weeks and for up to 3 months - but this may be extended
You can claim Universal Credit if you have a low income including whilst on FURLOUGH or if you are UNEMPLOYED
If you are employed (and not on FURLOUGH) There’s no limit to how many hours you can work.
How much Universal Credit you get will depend on your earnings. Your Universal Credit payment will reduce gradually as you earn more - for every £1 you earn your payment reduces by 63p.
In general terms you will get £409 pcm to live on. If you are under 35 years old you will also get an additional £255.23 pcm towards your rent (£58pw) which is a fixed maximum rate in Lincoln available to those under 35 years of age.
Broadly, you will loose 63 pence of benefit for every £1 to you earn (including FURLOUGH payments).
There is a benefits calculator below:
If you are self employed and trading (as a sole trader or a partnership) you will get a taxable grant which will be 80% of the average profits from the tax years (where applicable):
2016 to 2017
2017 to 2018
2018 to 2019
To work out the average HMRC will add together the total trading profit for the 3 tax years (where applicable) then divide by 3 (where applicable), and use this to calculate a monthly amount.
It will be up to a maximum of £2,500 per month for 3 months.
HMRC pay the grant directly into your bank account, in one instalment in June 2020.
So in June HMRC will pay you a sum that broadly equates to 80% of the total of three months average earnings from your self employment.
This only applies if you earned less than £50k a year as self employed.
If your earnings are still below the sums applicable to claim Universal Credit , then you can still claim this as well
The above does not apply if you are a company director in your own company or service company on PAYE in this case you are in fact an EMPLOYEE and would need to use FURLOUGH (If you are the sole director you may need to “hibernate” the company to do this) or rely on Universal Credit. If you are paying yourself through dividends there is unlikely to be any support other than Universal Credit.
GOVERNMENT OFFICIAL ADVICE TO LANDLORDS AND TENANTS DURING CV19: