Coronavirus Jobs Retention Scheme (CJRS)-
This scheme has been extended to October 2020, however there are going to be some changes to the rules and the amount of funding that will be available.
From 1st August 2020 employers will need to make a contribution towards the funding of the scheme. This is to have a tapered introduction with the Government to continue to cover 80% of the furloughed workers wages (up to the cap amount of £2,500), but employers will need to cover the national insurance and pension contributions.
In September 2020 the amount that the Government will fund is to drop to 70% (to a cap of £2,190), with employers picking up not just the national insurance contributions and pension contributions but also 10% of the wages. In October 2020, the amount that the Government will fund is to further drop to 60% (to a cap of £1,875), with the employer’s share being 20%. The scheme will then stop. In addition, the scheme is to be made more flexible with regard to the hours that the furlough worker can or cannot work. From 1 July 2020 it will be possible for workers to come back to work for part of the working week and then to be furloughed for the remainder. However, the scheme is to be closed to new entrants from the end of June 2020.
Furloughed workers will need to be added to the scheme by 10 June 2020.
Coronavirus Self Employment Scheme-
The Chancellor has announced that this scheme has also been extended and is the final extension after which it will close. The scheme is to be extended to August 2020 at which point a claim can be made to cover June- August 2020, however unlike the claim for March – May 2020, this time the claim will be based on 70% and not 80% of average monthly profits, with the maximum capped at £6,570. Here are the latest editions of our benefits guides-
Covid-19- Coronavirus Briefng1 Benefit Changes
Covid-19- Coronavirus Briefing2 Income Loss
Covid-19- Coronavirus Briefing3 Government Income Replacement Schemes
To calculate how changes in income affect Universal Credit BOOK NOW-
NEW Covid-19 Benefit Updater 2020 -2- Income Change and Universal Credit
And for the self employed and other issues-
NEW Covid-19 Benefit Updater 2020 -3- Income Change and Universal Credit