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 the wake of the COVID-19 pandemic, many businesses have been understandably focused on stabilising cash-flow. As restrictions start to
HMRC has announced the expected opening from 26 May 2020 of the portal for small and medium sized employers (those
Newcastle-based chartered accountancy and business advisory firm UNW has welcomed the appointment of Mike Blenkharn as Senior Manager to its
These are clearly unprecedented times, and we are dedicated to keeping our clients and contacts updated on measures announced by
“Quick and easy” Bounce Back Loans of up to £50,000 to be made available to businesses from 4th May In