HELP  FOR TENANTS FROM THE GOVERNMENT

INFORMATION  FROM BOND HOUSING GROUP- PLEASE  STILL OBTAIN INDEPENDENT  PROFESSIONAL ADVICE  (BELIEVED CORRECT  AS AT  28 MARCH  2020)

EMPLOYED (PAYE)

Furlough Leave:

https://www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme

 

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

Universal Credit:

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:

https://www.entitledto.co.uk/benefits-calculator/Intro/Home?cid=06d4aa31-592a-4df3-b62f-ac2f46e92d66

SELF  EMPLOYED

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

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:

 

Ombudsman Services member Bond Housing Group Lincoln

Lettings 01522 246 724

Studios + Co-Living 01522 241 242 

Sales  01522 246 145

Developments  01522 246 077

Payments: www.bclin.uk/accounts

Complaints: www.bclin.uk/complaints

Privacy: www.bclin.uk/privacy

Fees: www.bclin.uk/landlordfees

Registered in England and Wales Company Number: 10132214 

Lincoln City Council Trusted Landlord

Registered with PRS

Registered with Client Money Protect

Registered with DPS No. 1747242

Registered with ICO No. ZA180202

Tenant Fees Act:  www.bclin.uk/fees

Bond Housing Group (Lincoln) Ltd

Sparkhouse

Ropewalk 

Lincoln LN6 7DQ

www.bclin.uk/offices

www.bclin.uk/bondfb

www.bclin.uk/register

lincoln@bondhousinggroup.com

Deposit Protection Service member Bond Housing Group Lincoln
Client Money Protect member Bond & Co Letting Agents Lincoln