LATEST UPDATES ON CORONAVIRUS JOB RETENTION SCHEME (CJRS)

Earlier today the government have announced their plans to extend the CJRS to the end of October (this was previously to end in June).

The scheme, as it is presently, is to be extended for a further month to July, with 80% of salaries of furloughed staff being covered by the government up to a maximum of £2,500 per month.

From August to October, the CJRS will continue, for all sectors and regions, but with greater flexibility; employers currently using the scheme will be able to bring furloughed employees back part-time. Further details are to be expected to be released by the government by the end of May but Rishi Sunak, The Chancellor, has stated that during this period that workers will, through the combined efforts of government and employers, continue to receive the same level of support as they do now, at 80% of their salary, up to £2,500. However, it appears that in this new phase of the CJRS, employers will be asked to pay a percentage towards the salaries of their furloughed staff.

More details are contained within this link:

https://www.gov.uk/government/news/chancellor-extends-furlough-scheme-until-october

All the staff at Banks Sheridan are committed to supporting our clients during these uncertain times and will endeavour to keep you informed as further important announcements are made.

If any of the Banks Sheridan team can help further, please contact us.