Job Retention Scheme - PAYE employees

On the 20th March 2020 the Chancellor announced the Coronavirus Job Retention Scheme.

This funding will be 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 Government hope to have the scheme up and running by the end of April 2020 and as soon as we have updates concerning this we will update everyone further.

Please keep viewing our blog for these updates.

In the meantime should you need assistance with furloughing any employees and creating and issuing the relevant notices please let us know - info@jdkbusiness.co.uk