Coronavirus Job Retention Scheme Update

• During June and July the scheme will continue as it did before. In August, the taxpayer contribution to the scheme will remain at 80% (up to a £2,500 cap), and employers will be asked to account for National Insurance and pension contributions, on average 5% of total employment costs.
• In September, taxpayers will contribute towards 70% of the furlough scheme (up to a £2,190 cap), and employers 10%. In October, taxpayers will pay 60% of the furlough scheme (up to a £1,875 cap), and employers 20%. From October, the scheme will close.
• Flexible furlough will be introduced from 1 July, to allow employees to return part-time. Employers will be able to determine the meaning of ‘part-time’. Employees could return for 2 days a week, for example, with employers paying the employee’s salary for those two days, with the furlough scheme covering the other 3 working days.
• New entrants to the furlough scheme will permitted until 30 June. Employers wanting to place new employees on the scheme will need to do so by 10 June, to allow the time to complete the minimum furlough period of 3 weeks before then.
• The Self-Employment Income Support Scheme will be extended, with applications re-opening in August for a second and final grant, to operate in the same way as the first grant did. The value of the second grant will be at 70%, to a maximum of £6,570.

We will update this page further as more details are revealed. Please get in touch if you have any further queries.