Furlough extended until March, Job Retention bonus scrapped

Furlough extended until March, Job Retention bonus scrapped

By Published On: 2 November 2020Categories: NewsTags:

It has now been confirmed that the Coronavirus Job Retention Scheme has been extended until 31 March 2021. From 1 November 2020, employers can claim 80% of an employee’s usual salary while they’re in furlough, up to a maximum of £2,500 a month.

Any employee that was employed and on payroll on 30 October – providing the organisation has made a PAYE RTI submission to HMRC since the scheme began in March – is eligible.

Where an organisation has made employees redundant or ended their contracts, if this was on or after the 23 September, they can be re-employed and placed on furlough, providing they were on PAYE payroll on or before that date.

Unlike the existing furlough scheme, which was due to close on 31 October, there is no maximum number of employees that can claim for the grant.

The job retention bonus which was to be available for companies re-employing furloughed employees has now been scrapped in light of the extension of the furlough scheme.

As always, if you are a client of Vantage Accounting and have any questions on this, please do contact your Client Director.

Note: All the information and advice in this blog post was correct at the time of writing.

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