Does this apply to bankruptcy petitions?
No. This bill relates to corporate insolvencies only. Should you require any advice as to personal insolvency situations, please contact our team.
Related FAQs
Yes, but only for work purposes and where it is unreasonable to do so from home. Work colleagues cannot meet to socialise.
The only potential negatives are the potential for MHFAs to become overloaded, or for MHFAs to overstep the boundaries of their role. Both would be avoided if a suitable framework is in place around them, and if adequate ongoing support and training is provided.
You cannot include the following payments in a claim:
- Discretionary bonus or commission payments
- Tips
- Non-cash payments
- Non-monetary benefits including taxable benefits in kind
- Salary sacrifice benefits that reduce an employee’s pay (however HMRC has agreed that such arrangements can be stopped by agreement if due to COVID-19 and the contract is changed)
The updated guidance has confirmed that all of the grant claimed should be paid to the employee in the form of money and that none of the grant is to the used to pay for the provision of benefits or a salary sacrifice scheme.
Yes – there should be a framework in place to ensure that MHFAs are fully supported themselves and so that individuals are supported beyond the support the MHFAs provide.
The Chancellor confirmed that payments under the scheme would not be available immediately.