The Coronavirus Job Retention Scheme, or Furlough Scheme, was recently extended across the UK until 31st March 2021. The key features of the latest incarnation of the scheme are as follows:
- Starting on the 1st November, the Government will pay 80% of employee’s usual wages for the hours they do not work, up to a cap of £2,500 per month.
- The terms of the scheme will be reviewed in January 2021.
- Employers do not need to have benefited from earlier iterations of the scheme to claim from 1st November.
There are some keys dates to bear in mind, as follows:
This is the cut-off date for any claims under the earlier version of the scheme for periods up to 31st October. The claims for periods prior to the 31st October will not be accepted after this point.
Remember to keep clear and accurate records to support your claims as HMRC are extremely likely to ask questions later!
This is the cut-off date for any claims for November. You can claim before, during or after your payroll is processed, but the claim cannot be made after this date.
PLEASE NOTE – Future claims must be made within 14 calendar days of the end of the period they relate to. If this falls on a weekend, the deadline becomes the next weekday.
Again, make sure you have records to support your claim.
After this date, employers cannot claim for any days that an employee is serving a contractual or statutory notice period.
Employees will now be able to log into their Personal Tax Account and see if their employer has made a claim on their behalf.
HMRC will now publish the names, an indication of the amount claimed and the Company Registration number of employers who claim under the scheme from this point forward. As yet we don’t have details of when this information will be published, but as soon as its published we’ll let you know.
If you have any questions relating to the above or any other aspect of the Coronavirus support that’s available for your business, please get in touch.