anju
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Everything posted by anju
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I attached a spreadsheet further up this thread if it helps you to work it out
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That sounds about right to me. It would be only 80% of the 27.3% or the 15 % though I think, so it’s even lower 🙁
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It’s so draining isn’t it? I’ve worked out what I think my figures should be and sent those to my accountant but of course not only will she be snowed under with every other business’s claims for JRS but it’s also timed to coincide nicely with the end of the financial year so I’m not expecting a response any time soon!!
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Nothing seems to be simple! I thought it had to be February 2020 figures rather than an average over the year, for both funding income and private fee income? That’s what it said on the guidance anyway I think.
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I think all on costs should be included eg holiday pay, NI contributions, pensions etc as far as I know
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Ah thank you 😊
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I have no more idea what to put on any online claim as I haven't got access to the portal so I don't know what HMRC are asking. In terms of calculating how much can be claimed, using the guidance on the gov.uk document published on Friday, I've done a spreadsheet. Don't know if it's useful to anyone else (and you may think it's not correct interpretation of the guidance) but I'm attaching it here in case you want to use it and put your own figures in - I've added some sample amounts but you can overwrite them. calculations for JRS.xlsx
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Exactly this 🙁
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That’s also difficult isn’t it where accountants (understandably) aren’t able to offer us much specific advice. I can see it may not be worth it if you have only one paying child. I’ve already furloughed my staff but also told them I would pay 100% wages as part of them agreeing to furlough, and I’ve given them all pay rises even though I only legally had to do this for one person. I did them all to maintain the differentials and because I stupidly though we were getting the full 80% on everyone’s wages! 😡
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This is a calculator for the JRS but there’s no mention of our sector so I assume it’s irrelevant to us?? https://www.tax.service.gov.uk/job-retention-scheme-calculator/confirmation
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That’s great. Is that including extra supplements eg for pupil premium?
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We’ve been told we will get all our funding but I won’t believe it until I see it. And yes that’s a huge problem about the underfunding 🙁
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I tried early this morning but my accountant needs to do it - I don’t have the correct access. I just wanted to see what the questions are so I can try and prepare the information. Accountant is no doubt swamped today so I haven’t heard from her.
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That’s a good question! I have no idea - I’m kind of assuming we will be back at preschool before July but who knows 🙄
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I think it’s only people who pay business rates who now don’t have to pay business rates and also get £10000 🙄 Unless I’ve got that wrong.
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Well I haven’t sadly. That would have been great!
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And all the other costs like insurance, subscriptions, Ofsted ☹️
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I read it as ‘CJRS support’ meaning the 80%. So you could claim 80% of the 60%. The 60% comes from the proportion of private fees to government funding. Eg if you received £4000 in government funding and £6000 in private income for whatever period they are looking at (Feb 20 I guess), then this would be 40% ‘dsg’ and 60% private income. And you’d be entitled to claim CJRS support (at 80%) of that 60% of your wage bill. So if your wage bill was £5000, 60% of this is £3000 and the 80% of this which you could claim would be £2400. And the trouble is you’d be losing £6000 private income but only able to claim £2400 🙄 I think that’s what it is anyway.
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That’s the trouble; it’s not 80% of the private income we can claim back, it’s 80% of the proportion of private to funded income which is always going to be a lot lower And like you say, it will be even more loss when it’s a 4 week month rather than February
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So sorry to hear this - it’s a nightmare
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Definitely. Mine is maybe 12% and I still think it’s worth it. Better than the proverbial poke in the visionary organ.
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I can’t work out whether we have to allocate particular staff members to furlough - I think so. But it would be a lot easier if the percentage is worked out and then they just give back that percentage of the total wage bill as a contribution towards costs. God knows.
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So complicated isn’t it
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I’m hoping the person who does my payroll will work out the NI, pensions etc as I’m really not sure either. I guess until the actual portal for applications opens on Monday it’s impossible to know exactly how it’ll work especially in terms of who to furlough/Un furlough etc.
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Yes I worked out the total funding for the spring term and divided by 11 weeks then multiplied by 3 weeks (number of weeks open in Feb) even though we didn’t receive that amount in Feb. The private income is what was actually received in Feb. And the percentage based on those two figures as you say.
