by Emma Hooper
The Coronavirus Job Retention Scheme went live yesterday, with over 140,000 businesses applying for the support within 24 hours.
The scheme is available for businesses that, as a result of Covid-19, cannot maintain their current workforce and would be forced to make employees redundant as a result. These employees need to be furloughed by written communication to be eligible.
The Government will be providing 80% of the employee’s usual monthly wage up to £2,500 a month. Employer National Insurance contributions and employer pension contributions (at the minimum percentage required) will also be reimbursed to the business. Once a claim has been submitted, HMRC plan to pay the amounts directly to the business bank account within 6 working days.
At Frost Wiltshire we want to make this as smooth as possible for our clients. We have a template furlough letter that can be issued to your employees if needed and will be making claims on behalf of all our payroll clients to help ease the financial pressures during this difficult time.
If you have any questions regarding the scheme please contact our team who will be more than happy to help by emailing firstname.lastname@example.org.