What do you need to know about the Job retention scheme?
How to manage with the furlough scheme
Since the beginning of the crisis, the government has announced a series of measures to help limited companies, and small and medium-sized businesses directly affected by the Coronavirus crisis.
Job retention scheme:
Companies that have been directly impacted by Covid-19 and are not able to keep their workforce, can apply for the Coronavirus Job Retention Scheme. You can claim for 80% of your employee’s wages plus any employer National Insurance and pension contributions, if you have put them on furlough because of coronavirus (COVID-19). From April 20th 2020, you can apply on the online service on HMRC’s portal:
Claim for wages through the Coronavirus Job Retention Scheme We recommend that you use HMRC’s guideline and calculator to help calculate your claim amount: HMRC calculator
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Statutory Sick pay
For Small and Medium sized businesses (SME), the Government has announced that they can claim back SSP (Statutory Sick Pay) for employees’ sickness and absence due to COVID-19.
The scheme covers employees under different types of contracts: Full-time employees; Part-time employees; Employees on agency contracts; Employees on flexible or zero-hour contracts.