Coronavirus: Job Retention Scheme
Under the Coronavirus Job Retention Scheme (CJRS), all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis.
This applies to employees who have been asked to stop working, but who are being kept on the payroll, otherwise described as ‘furloughed workers’. HMRC will reimburse 80% of their wages, up to £2,500 per month. This is to safeguard workers from being made redundant.
The CJRS will cover the cost of wages backdated to 1 March and is initially open for 3 months but will be extended if necessary. It can include workers who were in employment on 29 February. Any employees that have already been made redundant form 1 March can therefore be reinstated to the payroll and instead be reclassified as furloughed workers.
All UK-wide employers with a PAYE scheme will be eligible: this includes the public sector, Local Authorities and Charities.
Read our fact sheet for more details on the scheme. For further information or advice on Coronavirus, visit our dedicated hub or call us on 01903 234094.