We now have further details of the operation of the extension of Coronavirus Job Retention Scheme “furlough” grant that will apply from 1 November 2020 through to the end of March 2021. The government support will initially be at the rate of 80% of an employee’s reference pay for hours they are furloughed, subject to a maximum of £2,500 a month.
Claims must be made by the 14th of the following month although they can be made up to 14 days in advance. Another key difference from the previous versions of CJRS is that there is no requirement that the employee was on the payroll at 19 March 2020 or has been previously furloughed. They do however need to be on the payroll and subject to an RTI submission prior to midnight on 30 October 2020.
Need more information?
We have helped all our clients claim the furlough grant. Do you need help too? We are here to support you and your business through this difficult time and we offer a wide range of services which are unique to your business. Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.
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