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Coronavirus Job Retention Scheme Revised 1/7/2020

The Coronavirus Job Retention Scheme is being revised from 1 July 2020. 

The key amendments are as outlined below: New entrants to the scheme must be furloughed no later than 10 June.
 
June 80% & £2,500 paid by the government for furloughed staff and the government covers NI & pension.

July 80% & £2,500 paid by the government for furloughed staff and the government covers NI & pension.

August 80% & £2,500 paid by the government for furloughed staff and the Company must cover Er NI & pension.

September 70% & £2,188 paid by the government for furloughed staff and the Company must cover Er NI & pension.

October  60% & £1,875 paid by the government for furloughed staff and the Company must cover Er NI & pension.
 
Companies may also bring some employees and workers back part time and still keep them on furlough

The anticipated structure may work accordingly:-
 
The employee or worker comes back to work for 2 days per week and as such would receive full pay but at 40%.

The employee/worker would be entitled to receive 3 days worth (60%) of the grant (eg 60% * £2,500).



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