Thorntons Advice for Businesses: Job Retention Scheme Update
Job Retention Scheme: An Update
Due to an unforeseen technical error, the link in the previous mailshot did not work. It has been updated in this version. We apologise for any inconvenience.
Late on 26 March 2020, the Government published further, much needed, guidance on its Job Retention Scheme through which employers can place eligible employees on furlough and claim back 80% of their wages up to a maximum of £2500 from HMRC.
The guidance brings some welcome clarifications, although a number of questions remain unanswered. The guidance confirms that the Scheme will be backdated to 1 March 2020 where employers have laid off employees from that date due to the affects of Coronavirus. It will initially be open for a period of 3 months. In terms of when employers will be able to claim, it is expected that the Scheme will be up and running by the end of April 2020.
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