If you have stopped working due to the Coronavirus, and you paid yourself salary in 2019/20, you may wish to consider furloughing yourself and claiming a grant from HMRC under the Job Retention Scheme. The scheme is available to directors and employees. You must not carry out any work for the company whilst on furlough leave, although some flexibility is to be introduced on part-time working from July onwards.
The Government recently announced some changes to the scheme on 29 May 2020, for which detailed guidance will be published on 12 June 2020. The scheme will not change for June; the main changes will apply from August.
However, one point we wanted to draw your attention to is that the scheme will close to anyone who has not already been placed on furlough prior to 30 June, which means anyone making a new claim would need to furlough themselves from 10 June at the latest:
The final date by which an employer can furlough an employee for the first time will be the 10 June, in order for the current three-week furlough period to be completed by 30 June. Employers will have until 31st July to make any claims in respect of the period to 30 June. From 1 July the scheme will only be available to employers that have previously used the scheme in respect of employees they have previously furloughed.
If you have not already made a claim and wish to, please contact your accountant as soon as possible.