HMRC Job Retention Scheme
What are the options?
A Government grant of 80% towards employee salaries who would otherwise have been laid off as a result of the crisis.
- All UK businesses are eligible.
- Capped at £2,500 per month per employee.
- Workers must be ‘furloughed’, i.e. they must stop working but not be made redundant.
- 3 month initial duration but to be reviewed on an ongoing basis.
- Back dated to 1 March.
HMRC are in the process of setting up a new system to process requests and payments.
HMRC are also allowing business with fewer than 250 employees to reclaim up to 2 weeks Statutory Sick Pay for staff who have been off work due to Coronavirus.
Further information can be found here.