Financial Support

Last updated 26 August 2021

What to do if your employment is affected by coronavirus

The government has put in place new types of financial support if your employment is affected by Coronavirus. There are also a range of existing benefits available to individuals who now have lower incomes or have become unemployed.

If you're not 100% clear on what help is available or what is best for you then you can contact us to discuss your situation.

What financial support is available

Universal Credit

Universal Credit is available to tenants that are unemployed, employed and self-employed.

You can claim Universal Credit whilst you are awaiting other benefits.

Tenants will receive living expenses and support for rent. Monthly payments are made direct by the government to your bank account.

You apply online and create a Universal Credit account. If your partner is working, then you may still be eligible to claim. Both partners must set up their own Universal Credit accounts and then link the accounts.

Universal Credit is paid monthly, and you must update your Universal Credit account with any changes in your circumstances. If you are earnings vary or you receive other financial support your Universal Credit payment will be adjusted.

Available to: Unemployed, self-employed or employees on low incomes

Paid by: Government into your bank account

Apply to: Universal Credit website

Coronavirus Job Retention Scheme (Furlough)

If your employer is unable to operate or does not have any work for you, they may be able to keep you on the payroll. This is known as being ‘on furlough’.

Your employer can pay 80% of your wages up to a monthly cap of £2,500 with money made available from the government as part of the Coronavirus Job Retention Scheme.

Employers can bring furloughed employees back to work for any amount of time and any shift pattern, while still being able to claim a grant for the hours not worked.

The Coronavirus Job Retention Scheme will close on 30 September 2021.

Available to: Employees placed on furlough

Paid by: Employer

Apply to: Employer

Self-Employment Income Support Scheme

If you're self-employed or a member of a partnership and coronavirus (COVID-19) has has reduced your income then you may be eligible for a grant.

If you are eligible, the scheme allows you to claim a taxable grant worth up to 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.

Deadlines apply and you should claim in good time.

Available to: Self-employed

Paid by: Government

Apply to: Government website

Council Tax Reduction

If you claim Universal Credit or you receive a low income you may be eligible to help paying your council tax.

Each council manages it own Local Council Tax Reduction scheme and you will have to make a direct application to your council.

Most councils will not backdate payments so make your claim quickly.

Available to: Unemployed and low income earners

Apply to: Local council

Statutory Sick Pay

If you earn more than £120 per week you can get £96.35 per week Statutory Sick Pay (SSP) if you’re too ill to work. It’s paid by your employer for up to 28 weeks. Your employer may have their own sickness pay scheme which may pay more - check your contract.

You may also be eligible to claim statutory sick pay if you are required the self-isolate.

Available to: Employees

Paid by: Employer

Apply to: Employer

Other benefits do exist but we wanted to cover the most commonly claimed benefits.

Please contact us on 07771-662266 or david@e-lettings.co.uk if you wish to discuss any of the schemes or benefits listed above.