The Coronavirus Job Retention Scheme (CJRS) is the UK scheme to pay wages of workers on leave because of coronavirus. Chancellor Rishi Sunak has confirmed today that this scheme will be extended to October 2020.
He said the government backed workers and companies going into the lockdown, and would support them coming out.
Mr Sunak confirmed that employees will continue to receive 80% of their monthly wages up to £2,500. But he said the government will ask companies to “start sharing” the cost of the scheme from August.
More than seven and a half million workers have been enrolled onto the scheme, with claims totalling more than £8bn.
Further details will be published by the end of May and we will keep you updated as soon as we know more.
Our business contingency plan is in place and we will do everything we can to support our clients during this uncertain period, please do not hesitate to contact us here if you have any concerns or queries.
For further information on the Coronavirus Job Retention Scheme please see our dedicated COVID-19 support hub below:
Latest blogs from HB Accountants
- COVID19: 11 May 2020 – Updated Coronavirus Job Retention Scheme: step-by-step guide for employers
- COVID19: How to find out if you are eligible for the Self-Employment Income Support Scheme (SEISS)
- COVID19: Free Web Workshops from HB Accountants to help you and your business
- COVID19: Grants and funding programmes to assist social enterprises, local organisations & charities
- COVID19: Claiming the self-employment grant scheme
The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any errors or omission or for any person acting on or refraining from acting on the information provided in the above