COVID-19 – Payroll co-funding phase 2 guidance issued

24/04/2020

We wanted to bring your attention to:

Payroll co-funding phase 2 guidance issued

This afternoon the Government of Jersey issued formal guidance on phase 2 of the payroll co-funding scheme which supports payroll costs between 1st April and 30th June. We have listed some of the key points and linked to the formal guidance our website:

Click on the Phase 2: Support from 1st April to 30 June section for all the information

The application form for the phase 2 support will be live on the Government’s website on Friday 1st May and we will put a link to it on this same page as soon as it is available.

Cash flow planning 

Now is a really important time to make sure you keep track of the cash position in your business. This will be even more important if you are applying for the payroll co-funding scheme, negotiating with your landlord or trying to secure financial support from your bank.

You can start this process yourself by taking a look at the Steps to manage your business’s short term cash flow in our Resource Hub on our website and downloading this monthly Business Cashflow Forecast spreadsheet.

But, if you need help with forecasting your cash and you are not receiving advice from an accountant or other professional adviser, you can apply for financial planning support by completing this application form.

Negotiating your rent with your landlord

One of the biggest costs you might have is the rent on your office or outlet and this is something you should negotiate with your landlord if your revenue has been affected by the COVID-19 restrictions.

You can find guidance, templates and an application for help in this process in the Business rent advice – free 1:1 consultation section on our website.

As ever, keep looking at our website www.jerseybusiness.je/coronavirus which is being constantly updated with information and guides.

Stay safe and best wishes

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