Market Insight

Government guidance: Claim for your employees’ wages through the Coronavirus Job Retention Scheme

April 14, 2020

If you cannot maintain your current workforce because your operations have been severely affected by coronavirus (COVID-19), you can furlough employees and apply for a grant that covers 80% of their usual monthly wage costs. 

This covers wages up to £2,500 a month, plus the associated Employer National Insurance contributions and pension contributions (up to the level of the minimum automatic enrolment employer pension contribution) on that subsidised furlough pay.

This is a temporary scheme in place for 3 months starting from 1 March 2020, but it may be extended if necessary and employers can use this scheme anytime during this period. 

It is designed to help employers whose operations have been severely affected by coronavirus (COVID-19) to retain their employees and protect the UK economy. 

However, all employers are eligible to claim under the scheme and the government recognises different businesses will face different impacts from coronavirus.

For more information click here.