Furlough Scheme Extended By Four Months

May 12, 2021

Announced by the Chancellor on the 12th May 2020, the Furlough Scheme put in place due to the Coronavirus pandemic will continue until the end of October.

However, there will be changes to the scheme with effect from August. The Government will continue to pay 80% of employees’ monthly wages up to £2,500 but companies will be asked by the Government to begin “sharing” the cost of the scheme.

This will see employers offering part-time work to employees where available. The part-time work will be paid for by the employer, whilst the remainder of the unpaid regular monthly wage will continue to be paid through the Furlough Scheme. How this impacts upon employment contracts is unclear.

Whilst this announcement has been a big relief to many companies, the Government are advising us to be aware that there won’t be a “silver bullet” and it is down to companies to work with the Government in supporting each other through this time. Some unions are now pushing for a job retention scheme to be introduced, in order to ensure everyone retains a “decent job”.

For any advice regarding the Furlough Scheme, or if you would like to discuss a business strategy to help your business offer employees part-time work during this time. Please click here to get in contact with us.

Our recent blogs

What you need to know about the October 2021 Employer Bulletin

November 8, 2021

Last week HMRC published the October 2021 Employer Bulletin. Published six times a year, the bulletin offers both employers and agents the latest information on topics and issues which may affect them, according to the GOV website.

Full Article

Changes To Directors’ Salaries

April 25, 2020

The advice regarding Directors’ salary for 20/21 has altered, please read the information below direct from our team of accountants. When it comes to tax-efficient salary levels for 20/21 there are now three national insurance thresholds you need to be aware of.

Full Article

COVID-19: Self-Employed Income Support Scheme – Your Questions Answered

May 20, 2020

As many self-employed amongst you prepare to make your claim for the Government announced Income Support Scheme, we have created this guide to help you expediently submit the required information.

Full Article