It feels like a deja vu as similar changes were in place a year ago. Below are the recent updates for the scheme.
The Coronavirus Job Retention Scheme has been extended until 30th September 2021, but the level of grant you can claim for the hours that employees are on furlough will change as follows:
Furloughed employees will continue to receive 80% of their pay but employers will have to contribute some of that pay.
In July 2021: employers can CLAIM 70% of the furlough pay (up to £2,187.50) but will PAY 10% of furlough wages (up to £312.50) themselves.
In August 2021: employers can CLAIM 60% of the furlough pay (up to £1,875) but will PAY 20% of the furlough wage (up to £625) themselves.
September 2021: employers can CLAIM 60% of the furlough pay (up to £1,875) but will PAY 20% of the furlough wage (up to £625) themselves.
Further details can be found HERE and if you have any questions, please let us know. We are here to help.
The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.
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