Furlough Scheme Deadline Looming!
This is your monthly reminder to submit your claims under the Coronavirus Job Retention Scheme or Furlough Scheme. If you had employees on Furlough during March, you have until Wednesday 14th April 2021 to make your claim.
Remember, you can claim 80% of furloughed employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, until the end of June.
In July, Furlough Scheme grants will cover 70% of employees’ usual wages for the hours not worked, up to a cap of £2,187.50. Employers need to pay the difference between the amount claimed and the 80% of their usual wages for the hours unworked in this time, up to the cap of £2,500 per month.
In August and September, the amount you can claim will reduce to 60% of employees’ usual wages up to a cap of £1,875. Again, employers need to pay the difference between the amount claimed and 80% of the employees usual wages.
Employers must also continue to pay Employer National Insurance contributions and pension contributions on furlough pay.
As ever, please be sure to keep careful records of the claims made and how they were calculated and who you have on furlough and when. HMRC are already asking questions around claims made, and it is very likely that they will ask for evidence to support any claims in the coming months.