Coronavirus Job Retention Scheme Portal Open
The government portal for applying to furlough staff (including yourself) opened today and has proven its worth. It is reported that 2,200 applications have been made – every minute!
Virus Job Retention Scheme – is the name of the scheme to which furloughing employees pertains.
The Gov.uk website is being updated on a daily basis and should be your go-to web page for information.
Both Self-employed and businesses are offered a helpline: 0800 0159 559 Monday to Friday 8am to 8pm, and Saturday 8am to 4pm.
All UK businesses are applicable.
If you cannot maintain your current workforce because your operations have been severely affected by coronavirus (COVID-19), you can furlough employees and apply for a grant that covers 80% of their usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage.
This is a temporary scheme in place for 3 months starting from 1 March 2020, but it may be extended if necessary and employers can use this scheme anytime during this period. It is designed to help employers whose operations have been severely affected by coronavirus (COVID-19) to retain their employees and protect the UK economy. However, all employers are eligible to claim under the scheme and the government recognises different businesses will face different impacts from coronavirus.
In order to claim you must:
- Created and started a PAYE payroll scheme on or before 28 February 2020
- Enrolled for PAYE online – this can take up to 10 days
- Hold a UK bank account