Payroll co-funding scheme eligibility

The States of Guernsey have reintroduced the payroll co-funding scheme which will enable all eligible businesses and the self-employed to claim for 80% of the minimum wage (£8.70 per hour), up to a maximum of 42 hours per week.

There are certain criteria that both businesses and the self-employed must meet in order to be eligible for this scheme. These are:

• Businesses must work within an eligible economic sector (see our previous post for a list of eligible sectors)

• Claims can only be made for members of staff employed by the business as of 23rd January 2021

• Businesses must have registered with Social Security by 31st December 2020 and submitted their employer return for quarter 4 2020 (the deadline for this was 15-01-2021)

• Sole traders who do not employ staff must have registered with Social Security by 31st December 2020 and paid their Class 2 contributions (or set up a direct debit to pay these in installments).

• Claims can be made from 1st February 2021.

Before making a claim, please consider if this funding is needed. If a business makes a profit, then the funding can be clawed back.

For more information or for any assistance please get in touch: