Copy

Coronavirus Job Retention Scheme: Changes from today

If you're an employer, you need to be aware of the new changes to the Coronavirus Job Retention Scheme (CJRS).

We've previously included a timeline of all of the upcoming changes in our previous newsletters but as a reminder, here is what is changing from today.


From 1stOctober HMRC will now pay 60% of wages up to a cap of £1,875 for the hours the employee is on furlough.

What you need to know
  • You must continue to pay furloughed employees 80% of their usual wages for the hours they do not work, up to a cap of £2,500 per month. Employers will need to fund the difference between this and the CJRS grant themselves.
  • Employers will continue to pay ER NICs and pension contributions
  • Employers will continue to able to choose to top up employee wages above the 80% total and £2,500 cap for the hours not worked at their own expense if they wish. Employers will have to pay their employees for the hours worked.
  • This scheme will end on 31st October 2020. The new 'Job Support Scheme' will begin on 1st November 2020.

The Business Store
Twitter
Facebook
Website

You're all up to date! Thank you for reading our newsletter. If there are any topics you would like to discuss further please get in touch with us on 01268 770099.

Copyright © 2020 The Business Store. All rights reserved.

Want to change how you receive these emails?

You can
update your preferences or unsubscribe from this list.