Coronavirus Job Retention Scheme

Last Friday, The Chancellor announced a scheme designed to protect the jobs of potentially millions of workers whose jobs may be at risk due to the economic crash caused by Covid-19. Keep reading to find out more.

Who can access the scheme?

All UK businesses can access the scheme.

How the scheme works

The Government will pay 80% of worker’s wages up to a cap of £2,500 per worker. It is initially expected that the scheme will run for three months but could be extended if necessary.

Steps to take

• Employers must designate the worker(s) intended to receive this benefit as ‘furloughed workers’. They will remain on the payroll rather than being laid off
• Any employee on the payroll from 1^st March 2020 can be designated as ‘furloughed’
• The affected employee’s must be notified of this change and employment law must be adhered to
• ‘Furloughed workers’ must not undertake work for the employer during this time

How to apply?

At the time of writing, The Government are developing the systems needed to enforce this scheme. Keep an eye out for MJH’s updates and the daily press conferences held by The Prime Minister and Chancellor for further information.