The coronavirus job retention scheme is a temporary scheme set in place starting from 1 March 2020 until October 2020. It can be used anytime during this period by employers.
This scheme is aimed at employers who cannot maintain their current workforce because their operations have been severely affected by Covid 19. As a result, you can furlough employees and apply for a grant that covers 80% of their usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and pension contributions (up to the level of the minimum automatic enrolment employer pension contribution) on that subsidised furlough pay.
All employers are eligible to claim under the scheme, although it is primarily designed to help those whose operations have been severely affected by coronavirus (COVID-19) to retain their employees and protect the UK economy.
The Coronavirus Job Retention Scheme Portal , allowing employers to reclaim up to 80% of a furloughed employee’s salary, can be accessed through the following link: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme
For information on this, or any other employment matter, please contact Healys Employment team