Interfisc UK | Apply for NOW wage cost subsidy 3.3, how does that work? | Interfisc
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As from May 6th, you can apply for NOW wage cost subsidy 3.3

 

As from May 6th, you can apply for NOW wage cost subsidy 3.3

Apply for NOW wage cost subsidy 3.3

From the 6th of May through the 30th of June 2021 the fifth application period (April, May and June 2021) of the temporary emergency bridging measure (NOW 3.3) will be running. This compensation is intended for national or international employers to continue payment of the wages to their Dutch employees on a permanent or flexible contract. Regardless of whether you have previously applied for a NOW compensation, you can apply for this compensation if you have an average loss of turnover of at least 20% over 3 consecutive months. As with the previous application periods, we are willing to assist you and submit the application for your organization.

What do we need in order to arrange the application for you?

If you would like us to process and submit the preliminary application for you, we will need the percentage of expected loss of turnover over the NOW 3.3 period, which must be at least 20%. We would also like to hear from you whether your organization is part of a group of companies.

Over what period do you calculate the loss of turnover?

The fifth application period covers a period of three months, starting from April, May or June. Did your company receive a compensation for the fourth application period? If so, the 3 months of the fifth application period must align to the 3 months of the fourth application period over which your turnover loss has been calculated. If you have not received a compensation for the fourth application period, you can decide yourself when you would like the period to start. You can choose to use the turnover figures of April-May-June, but also of May-June-July or June-July-August 2021.

Has your company taken over a (part of a) company between the 1st of January 2019 and the 2nd of February 2020? Then you may select the period over which you calculate your turnover. This can be your turnover in 2019, or the turnover since the acquisition up to and including the 29th of February 2020. If you do not inform Interfisc about a possible acquisition during this period, we will assume in the application that there have been no acquisitions.

How is the loss of turnover determined?

The compensation is determined on the basis of the expected percentage decrease in turnover that your company will incur.

To determine this percentage of losses, the following data must be compared to eachother:

  • Turnover figures for the full year 2019.
  • (Estimated) Turnover figures for the period in which NOW 3.3 is applied for.

The estimated percentage of turnover decrease is determined as follows:

¼ turnover 2019 -/- turnover NOW 3.3, devided by ¼ turnover 2019 x100% = ….% decrease in turnover

How is the loss of turnover determined?

The compensation is determined on the basis of the expected percentage decrease in turnover that your company will incur.

What are your obligations with an application?

  • The wage bill from June 2020 will also be taken into account in the calculation. The wage bill from the chosen period of loss of turnover may decrease by a maximum of 10% compared to the wage bill in June 2020 without this having any consequences for the definitive compensation. So keep the wage bill equal as much as possible to avoid having to repay a part of it.
  • You have a best effort obligation to guide your employee to another job if you dismiss an employee or if his contract expires. If you submit an application for economic dismissal, you also have the duty to report this to the UWV. If you fail to do this, your definitive allowance will be reduced by 5%.
  • Keep records of administration that allow the UWV to check whether you meet all the conditions for the allowance. Keep this for up to 5 years after the compensation has been determined.
  • Inform your works council, employee representatives or your employees about the allowance.
  • Continue to submit your payroll tax return on time.
  • Do not pay out dividend and bonuses to shareholders, board and management, and do not buy your own shares. This only applies if the advance on the compensation is € 100,000 or more, or if the definitive compensation is € 125,000 or more. However, if a company receives compensation, the foreign parent company is allowed to pay out bonuses and dividends as long as this foreign parent company does not receive NOW itself in the Netherlands.

Final calculation

The application that is now being submitted provides a provisional compensation. Please note that a final settlement will be made later based on the actual figures. This can lead to a (partial) refund of the advance received or to a subsequent payment. The term for the definitive application is (presumably) January 31, 2022 to October 23, 2022. It might also be a possibility that you will need to enclose a third-party statement or auditor’s statement with the final application. This depends on the amount of your advance and compensation. You can use your own accountant or bookkeeper for this. If desired, we can put you in touch with an accountant who is able to guide you with the statement. We will of course also be happy to assist you in submitting this final application.

Can we keep you informed of further developments?

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Any questions?

Do you have any questions about the NOW grant? Please feel free to contact one of our advisers, Ewold Bom or Francesco Monteiro, they are happy to think to assist.

Publicatiedatum: 10 /05 /2021