Today’s email contains direct debit guidance for Levy-paying employers, details of Government support to SMEs across the UK and an update on the Construction Talent Retention Scheme.
Direct debit guidance for Levy-paying employers
Recognising the cash-flow challenges faced in the wake of COVID-19, we looked at ways to reduce the amount of Levy employers would be asked to pay over the next two years. As well as the break from paying the Levy between April and September 2020, we’re proposing a 50% reduction to the 2020 Levy rates for Levy that is raised in 2021/22, in order to provide help when it is most needed.
The amount you will need to pay for 2020/21 (for the 2018/19 tax year) will be reflected in the 2019 Levy Assessment Notice, that you’ll receive by post later this month.
What this means for Direct Debit installments
To ensure the Levy break this year is ‘real’, we extended the period over which regular payments can be made from 10 – 12 months. To help spread payments, we’re offering extended interest-free Direct Debit instalments over a full 12 months.
Direct Debit instalments are normally collected in the 10 months between May and February, but will now be collected over 12 months, from September 2020 to August 2021. Then for the Levy raised in 2021/22 – when we are proposing a 50% rate reduction – six installments will be collected, from September 2021 to February 2022.
To take advantage of this, you’ll need to complete and return a Direct Debit mandate that will accompany the 2019 Levy Assessment Notice.
If you already have a Direct Debit in place there’s nothing you need to do – existing Direct Debits will automatically switch to the new instalment plan outlined above.
Government support to SMEs across the UK
Governments across the UK are offering support to SMEs coping with the impact of COVID-19. I hope these links are useful.
In England the Small Business Leadership Programme and Peer Networks aims to enhance resilience and recovery amongst SMEs. Details here. Scottish Enterprise are also offering a range of resources. Details here.
Meanwhile, Business Wales are providing independent support and advice to people starting and growing a business in Wales. Details here.
Construction Talent Retention Scheme (CTRS)
The aim of the CTRS, which is being led by the Construction Leadership Council, is to match workers at risk of redundancy with jobs across the UK. It is vital that the construction industry holds onto as many of its skilled workforce as possible.
Since its launch on July 24th, 570 organisations have registered for the CTRS with over 317 vacancies posted.
If you’re an employer looking to recruit you can register for the CTRS here.
CITB’s COVID-19 Urgent Messages page is refreshed daily and includes updates on the full range of our work.
You can also read the range of support measures made available to UK businesses and employees by the UK Government.
I hope you and your colleagues have a fruitful week. My next update will be on Wednesday 19 August.