Financial Support

Last updated 01 April 2020

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 your 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

Universal Credit

Coronavirus Job Retention Scheme (Furlough)

If you and your employer both agree, your employer may wish to keep you on the payroll if they’re unable to operate or have no work for you to do because of coronavirus (COVID-19). 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.

Available to: Employees on furlough

Paid by: Employer

Apply to: Employer

Coronavirus Job Retention Scheme

Self-Employment Income Support Scheme

Use this scheme if you're self-employed or a member of a partnership and have lost income due to coronavirus.

This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed.

Available to: Self-employed

Paid by: Government

Apply to: Government website to be set up soon

Self-Employment Income Support Scheme

Statutory Sick Pay

You can get £94.25 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.

Available to: Employees

Paid by: Employer

Apply to: Employer

Statutory Sick Pay

Lay-offs and short-time working

Your employer can ask you to stay at home or take unpaid leave if there’s not enough work for you. A lay-off is if you’re off work for at least 1 working day. Short-time working is when your hours are cut. You should get your full pay unless your contract allows unpaid or reduced pay lay-offs.

Available to: Employees

Paid by: Employer

Apply to: Employer

Lay Offs & short timeworking

Other benefits do exist but we wanted to cover the one most relevant to your situation.

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