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CV19 - Job Retention Scheme - updates

27 March 2020      Julia Ascott, Employment Taxes Specialist

A few further details were published on the Government's Business Support website regarding the Job Retention Scheme which you can read here.  Most notably, it confirms the extent of the grant:

HMRC will pay employers a grant worth 80% of an employee’s usual wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that subsidised wage.

This should come as welcomed news for those of you who are considering furloughing those staff who have no work to do and you would otherwise have made redundant.

Hopefully we'll see more and more details come through on the technicalities and practicalities today.

Any questions, please email me.

UPDATE - the details of the scheme have now been released which you can read here.  Please note that there is a section regarding the potential non-availability of the scheme to the public sector.  We are getting views from experts, (tax & law) and seeking clarification from HMRC - we will get this information to you as soon as possible.



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