Please note: An article on the Job Retention Bonus has been posted since this article was published – please click here to view this article or see our previous post for full details on original scheme.
From 1 August 2020, the level of grant will be reduced each month.To be eligible for the grant employers must pay furloughed employees 80% of their wages, up to a cap of £2,500 per month for the time they are being furloughed.
Summary of changes:
- from 01/08/2020 a claim for Employers NIC and Pension can no longer be made.
- From 01/09/2020 – CJRS rate changes to 70% with the employer topping up the remaining 10%
- From 01/10/2020 – CJRS rate changes to 60% with the employer topping up the remaining 20%
More in-depth detail can be found here.