Job Retention Scheme updates have been issued. More clarity has been required by employers and employees and this is now starting to come through. Employers have been finding difficulty in explaining this scheme to their employees and we now have two seperate documents published to assist both employers and employees understanding of the Scheme.
- This scheme is open to all employers with a PAYE payroll scheme that was created and started on or before 28 February 2020, including charities.
- Employers can apply for grants of 80% of furloughed employees’ (employees on a leave of absence) monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage, provided they keep the worker employed.
- The scheme will cover the cost of wages backdated to 1 March 2020, if applicable.
The aim is to have the scheme up and running by the end of April 2020. More detailed guidance will be published in due course so keep a look out on www.dawnmclaughlin.co.uk and our LinkedIn and Facebook pages for further updates from us.