Job Retention Scheme Changes
The September changes…
Changes to the Coronavirus Job Retention Scheme mean that further contributions from employers are needed from September. The 80% grant paid by the Government has continued at a cap of £2,500 until the end of August. However, from 1 September, the Government’s grant has decreased to only cover 70% of furloughed employees’ wages. This is at a decreased cap of £2,187.50.
Further changes will occur in October when the Government will only cover 60% of furloughed employee wages at a cap of £1,875.
Now that government grants have begun to decrease, you must top this up. Furloughed employees still need to receive 80% of their wages up to £2,500. For example, a 70% grant up to £2,187.50 will attract a 10% top up from you to a maximum of £312.50.
If you need further guidance on the Job Retention scheme changes, or have an ongoing furlough issue, please get in touch