FURLOUGH – WHAT YOU NEED TO DO TO CLAIM THE WAGES GRANT

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FURLOUGH – WHAT YOU NEED TO DO TO CLAIM THE WAGES GRANT

The government has confirmed further details on the Coronavirus Job Retention Scheme.

Below is a summary of the key details,:

  • You need to get agreement from your employees to designate them as furloughed workers and reduce their pay to 80%, capped at £2,500 per month
  • You can designate employees as a furloughed worker if they are PAYE and were on your books on 28th February 2020
  • The scheme applies to all types of employee contract including full time, part time, zero hours and variable hours,
  • The Institute of Chartered Accountants have now confirmed that the same rules apply to director/owners.
  • Once people recover after being on sick leave or in self-isolation, they can be furloughed
  • Anyone made redundant from 28th February 2020 can agree to be brought back and placed on furlough
  • Furlough must be for a minimum of three weeks, but employees can be placed on furlough more than once
  • Wages must be paid to employees first and then reclaimed through an online portal

As part of our Fee Protection Service, Peninsula have provided access to all the latest information, guides, letters and policies in a toolkit, you can access the COVID-19 toolkit here.

By | 2020-04-02T15:20:22+01:00 March 30th, 2020|Covid-19, News Update|0 Comments