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HMRC has announced today that their system to submit applications for grants under the Coronavirus Job Retention Scheme Launch is set to go live on 20th April.
Given that the latest analysis by the Resolution Foundation is projecting that over nine million workers are likely to be furloughed under the scheme, HMRC are already flagging their concern over their ability to cope with the demand.
Based on the HMRC expectation that phone demand would be beyond their capacity to offer a normal service, the Coronavirus Job Retention Scheme portal has been designed to be self-serve with guidance in place.
The Resolution Foundation analysis has been extrapolated from data provided by the British Chambers of Commerce who have indicated that nearly 20% of smaller firms plan to furlough all their staff with another 50% looking to place the majority their staff into the scheme.
As a result, it is imperative that the HMRC portal has enough capacity to handle the level of applications. All the more with so many businesses needing an injection of cash before the end of April to survive.
For our clients that have already indicated their desire to furlough staff and filled in our online form, we have everything in place to process the grant application through the HMRC portal when it goes live.
For everyone else, there is still time to furlough staff and our guidance can be read at https://cooperfaure.co.uk/covid-19-business-support-how-to-make-a-claim-through-the-coronavirus-job-retention-scheme/.
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