For those who experience symptoms of Covid-19, the official advice from the UK government is to self-isolate for 2 weeks.
The strain on businesses has been recognised by the UK government, and accordingly, the Chancellor has set out a plan to support businesses that are affected by the Covid-19 outbreak.
If your business employs <250 staff, the UK Government will refund the cost of providing 2 weeks of Statutory Sick Pay (SSP) to employees who are off work due to COVID-19-related illness.
The refund for SSP will be granted to employers by HMRC in the form of a rebate - so whilst c. 2 million small & medium-sized businesses* will be receiving SSP support, the relief will not be instant, and employers will initially have to bear the cost before claiming this back from the government.
HMRC will be releasing further details in due course, with respect to how employers can claim the rebate.
* Small and medium-sized businesses are defined by HMRC by certain revenue, asset & employee number thresholds. To qualify for the above SSP relief, companies must only have fewer than 250 employees, therefore certain 'large' businesses might also qualify for SSP relief. For more information on company size thresholds, you can visit our Information Page (https://www.waitefinancial.co.uk/information-page).