Sources Of Financial Support For Museums And Their People During The Coronavirus
Many people have been asking us about the financial support available for museums. We have provided a round-up of current support and sources of information below, summarised by Kernow HR and the Cornwall and Isles of Scilly Growth Hub.
Please do contact us if you have any concerns or questions. We are here to help.
Best wishes,
The CMP Team
Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
You will need to:
– Designate affected employees as ‘furloughed workers’ and notify your employees of this change – changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiation.
– Submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required).
HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement.
Existing systems are not set up to facilitate payments to employers.
How To Get A Coronavirus Grant
Many museums are asking if they are eligible for Government aid during the coronavirus outbreak, and how and when can you get the money.
This summary from the Growth Hub set out who’s eligible for the grants and how to get the money
VAT
For any organisations and individuals that are VAT registered, your VAT payment falling between the 20 March and 30 June can be deferred.
Taxpayers will have until the end of the 20-21 tax year to pay any liability that has accumulated during this period.
Don’t Fall For A Coronavirus Scam
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Don’t fall victim to fraudsters, learn how to spot a scam.
Support For Freelancers And The Self Employed
We hope there will be further news soon about government support for freelancers and self-employed workers. The Creative Industries Federation are petitioning government to provide support for the many freelancers who make up the creative sector (including those working with museums).
They are also offering 6 months free membership for freelancers.
Please sign and share the petition and if you are a freelancer in Cornwall who needs help, please contact us and we’ll do what we can to offer you support and guidance at this worrying time.
Currently, Self-Assessment payments due on the 31 July 2020 will be deferred until the 31 January 2021. No penalties or interest for late payment will be charged in the deferral period. This will be an automatic offer so you don’t need to apply for it.
Other sources of information for museums and galleries;
– AIM