States of Guernsey reintroduce the Payroll Co-Funding Scheme
28 January 2021
UPDATE: Following the briefing on 3rd February, the States will not be reclaiming any payroll co-funding support given for January and February. See our latest Insight here.
Following the announcement of the “circuit-breaker lockdown” on 23rd January 2021 the States of Guernsey have announced the reintroduction of the Payroll Co-Funding Scheme.
Full SoG guidance (including a list of eligible businesses) can be found here, however please see a summary of the guidance below.
- Businesses registered for support in the 2020 lockdown need not re-register, but new businesses looking for support can complete the registration here
- Businesses can claim reimbursement of 80% of minimum wage per employee (capped at 42 hours per week). The employer MUST make up the remaining 20% to ensure that employees are paid at least the minimum wage of £8.70 per hour for the hours they would normally work.
- Support is also available for self-employed in a welcome change from the last scheme.
- Claims to be made monthly in arrears, starting with the period 23 Jan to 31 Jan which can be claimed from 1 Feb using the online form here
- Businesses which are able to return to some level of activity will be able to continue claiming support, but will be asked to declare an estimate of their activity level relative to the norm.
It should be noted that SoG are requesting that businesses only apply if they genuinely need it and also they have included a provision to reclaim funding at a later date if the businesses ultimately make a profit during the calendar year 2021. Furthermore the SoG intends on periodically publishing lists of the businesses claiming support.
During and following the last lockdown we assisted a number of businesses with completion and/or review of their applications along with also assisting with preparation of cash flow forecasts and are at hand again now to offer the same assistance.
Please contact Carl should you have any questions.