NATIONAL LOCKDOWN: FINANCIAL SUPPORT FROM THE GOVERNMENT
Following the National Lockdown announcement in England, the Coronavirus Job Retention Scheme has been extended for a month. Employees will receive 80% of their current salary for hours not worked.
The government’s Coronavirus Job Retention Scheme (CJRS) – also known as the Furlough scheme – will remain open until December, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500.
- This extended Job Retention Scheme will operate as the previous scheme did, with businesses being paid upfront to cover wages costs.
- Employers will pay employer National Insurance Contributions (NICs) and pension contributions only for the hours the employee does not work.
- As under the current CJRS, flexible furloughing will be allowed in addition to full-time furloughing.
- All employers with a UK bank account and UK PAYE schemes can claim the grant. Neither the employer nor the employee needs to have previously used the CJRS.
- The Job Support Scheme, which was scheduled to come in on Sunday 1st November, has been postponed until the furlough scheme ends (currently planned to finish at the end of March).
FURTHER INFORMATION
Previous articles relating to government support during the Covid-19 crisis can be found here:
Joanna Mulgrew
Author