Yesterday, the Chancellor Rishi Sunak announced the extension of the Coronavirus Job Retention Scheme (also known as the Furlough scheme), to the end of October.
Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500 and new flexibility will be introduced from August to get employees back to work and boost the economy.
The scheme in it’s current form will continue to the end of July.
From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff.
The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month.
For further information on the announcement, click here.
For further information on the scheme itself, click here.
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Please note that the above is for general information only and does not constitute financial or tax advice. You should not rely on this information to make or refrain from making any decisions. You should always obtain independent professional advice in respect of your own situation.
