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Figurate Ltd

Figurate Ltd

Chartered Management Accountants

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Coronavirus Job Retention Scheme

March 21, 2020 by FigurateLtd

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  • You may claim 80% of the employee’s pay up to a maximum of £2,500
  • The employee must be on your payroll on 28 February 2020
  • The minimum period for furloughing an employee is 3 weeks.
  • You do not have to furlough all employees.
  • If you choose not to furlough all employees then you must have a fair way of selecting those who are and those who are not furloughed.
  • You must inform the employee(s) that they are being furloughed, with reference to their existing employment contracts.
  • You must make a claim to HMRC online. Their website is expected to be updated by the end of 30 April to allow this.

The situation is changing all the time. Please do check the latest guidance before acting on anything.

Please contact us if you need any help or support in accessing any of the government support. Also do contact us if you just want things to be explained in plain English!

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