Coronavirus Job Retention Scheme (CJRS) update (as at 12 May 2020)
The Chancellor announced today (Tuesday 12 May 2020) that the Government’s CJRS will remain open until the end of October.
- Coronavirus Job Retention Scheme will continue until end of October
- furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500
- new flexibility will be introduced from August to get employees back to work and boost economy
The scheme will continue in its current form until the end of July and the changes to allow more flexibility the Government want to bring in, will come in from the start of August. More specific details and information around this “flexibility” will be made available by the end of this month.
We have been told that from the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff. The employer payments will substitute the contribution the Government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month.
Again, there are lots of unknowns. Hopefully we will get the answers in the further guidance promised by the end of May.
CJRS will continue to apply across all regions and sectors in the UK economy, and comes after the Government outlined its plan for the next phase of its response to the coronavirus outbreak.
If you are new to Revel and are keen to find out more, please call our consultant Will Bolter FCCA MAAT ATT (our designated COVID-19 response advisor) on 07379 451484 or contact us by email here.