Coronavirus Job Retention Scheme – FAQs for Furloughing Employees
Coronavirus Job Retention Scheme
HMRC has published two guidance documents which provides considerable further detail on the operational framework of the coronavirus (COVID-19) Job Retention Scheme, dated 26 March 2020.
The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers for at least 3 months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19).
Employers can claim for 80% of furloughed employees’ (employees on a leave of absence) usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions.
We have had a significant number of enquiries from businesses searching for advice and assistance at this difficult time. To assist businesses and employees, we have put together an expert guide, which answers key questions relating to the Scheme.
We are currently assisting many businesses through this unprecedented time and have helped prepare relevant letters for ‘furloughing’ employees, advised on the process to follow and drafted homeworking policies. Our coronavirus toolkit provides employers with immediate assistance with “furloughing” employees. For further advice on how to manage the situation and reduce costs, please contact our specialist employment solicitors on 020 7956 8699 or email firstname.lastname@example.org.
The advice given in this article is correct as of 27th March 2020. The Coronavirus situation is developing rapidly, so please do contact us on 020 7956 email@example.com for specific advice and follow us on twitter for the latest updates (@RahmanLowe).