The Chancellor has just announced that the Coronavirus Job Retention Scheme will be extended again until the end of March following bleak predictions about the UK economy.
We'll have to wait for full details but the key points are:
- The government will continue to pay up to 80% of a worker's salary - at least until January when it will review the position and could ask employers to contribute to the costs
- Employers will have to pay national insurance and pension contributions on any hours the employee doesn't work (as well as on those they do)
- Employers retaining staff won't receive the Job Retention Bonus (which has been dropped) but, the government has said that another redeployment incentive may be provided at the 'appropriate time'
- It will be available for all UK employers
Our blog explaining the extended furlough scheme (announced last Saturday evening) is available here.
Our Coronavirus updates
We're working hard to keep you up to date with legal developments around Coronavirus. We've set up a portal which includes lots of helpful articles and advice to help you.
If you have a query, that we haven't answered, please contact us.