The Coronavirus Job Retention scheme is changing
The Chancellor has extended the Coronavirus Job Retention scheme and given guidance on how it will work over the coming months. Check the Coronavirus Job Retention scheme page for the latest updates.
If you can't maintain your current workforce because your business has been severely affected by coronavirus (COVID-19), you can furlough employees. This is to safeguard employees from being made redundant.
Using the Coronavirus Job Retention Scheme you can apply for a grant that covers 80% of an employee's monthly wage costs, up to £2,500 a month. On this subsidised pay, the grant will also cover Employer National Insurance contributions and the minimum automatic employer pension contributions.
The scheme covers the cost of wages backdated to March 1 if applicable. The scheme has been extended to 31 October 2020.