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 1st October 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.
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