The UK government’s job retention scheme provides funding for part of the employment costs of workers who are “furloughed” due to the coronavirus (COVID-19) pandemic.
The job retention program was introduced to support employers with operations severely affected by the COVID-19 outbreak, and that cannot maintain their current workforce. HMRC will pay participating employers 80% of a furloughed worker’s pay (subject to a maximum payment of £2,500 per month) plus the associated employers’ national insurance contribution (NIC) and minimum employer pension contributions (but not any associated apprenticeship levy). The program is available from 1 March to 31 May 2020 and may be extended.
HMRC on 4 April 2020 issued guidance on the program, and is expected to start processing claims by the end of the month.
Read an April 2020 report prepared by the KPMG member firm in the UK
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