Furlough Scheme Extended Until 31st March 2021by The Payroll Manager on 11/05/20
Here's the latest on the Furlough Scheme:
They say that a week is a long time in politics and I couldn't agree more. Just five days ago we were approaching what appeared to be the final hours of the UK Government's furlough scheme, but something had to give. With Covid cases on the rise and England's businesses being forced to close under Lockdown#2 there was no way that the new Job Protection Scheme would be fit for purpose. So with the threat of unprecedented numbers of job losses the UK Government has had to act quickly to restore confidence in its employer support scheme...
The Coronavirus Job Retention Scheme has been extended until the 31st March 2021 and will initially cover 80% of staff wages for hours not worked. Employers will be responsible for paying the National Insurance and pension contributions. There is a planned review point during January 2021 to decide whether the economy is sufficiently robust enough to reduce the government's contribution if things are improving.
We are continuing to process CJRS claims each month in line with our payroll processes. The correct forms are available on our dedicated Covid-19 page.