Coronavirus Job Retention Scheme extended by four months
The Chancellor of the Exchequer, Rishi Sunak, has today (12 May) announced that the government’s Coronavirus Job Retention Scheme (CJRS) is being extended until the end of October 2020.
The CJRS scheme is temporary and is designed to support employers whose operations have been severely affected by coronavirus (COVID-19). At the announcement today, the Chancellor stated that:
- Furloughed workers will continue to receive 80% of the current salary from the Government, up to the value of £2,500 a month;
- New flexibility will be introduced from August, in order to get employees back to work and boost the economy.
It was also confirmed that the scheme will continue in its current form until the end of July, with the changes to allow more flexibility coming into effect at the start of August, in order to support the transition back to work.
From the start of August, furloughed workers will be able to return to work part-time, with employers then being asked to pay a percentage towards the salaries of their furloughed staff.
We will provide specific details around these changes when further information is made available by the Government at the end of this month.
If you have any immediate questions, please do not hesitate to get in touch:
Employment Taxes Partner
T: 07810 852362
In his announcement to Parliament today (24 September), the Chancellor Rishi Sunak set out details of the Winter Economy Plan,
HMRC recently published a brief clarifying its policy on VAT and digital advertising services purchased by charities. The brief expands
In response to continued demand for its specialist tax services, North East accountancy and business advisory firm UNW has added
At the Summer Economic Update on 8 July 2020, the Chancellor Rishi Sunak announced changes to Property Taxes affecting purchasers
In the wake of the COVID-19 pandemic, many organisations have been understandably focused on stabilising cash-flow. As restrictions start to