20th April 2020 Posted by - Alexander Accountancy
The Government’s Coronavirus Job Retention Scheme went live today, with businesses able to claim up to £2,500 a month towards staff wages.
- Government’s furlough scheme opens for applications today – 10 days ahead of schedule
- employers can now go online to claim cash grants worth up to 80% of wages, capped at £2,500 a month per worker
- 5000 HMRC staff will operate the scheme – which is expected to help thousands of firms across the UK
The Government’s Coronavirus Job Retention Scheme went live today, with businesses able to claim up to £2,500 a month towards staff wages.
Employers can apply for direct cash grants through HMRC’s new online portal – with the money expected to land in their bank accounts within six working days.
The job retention scheme, announced by Chancellor Rishi Sunak as part of a package of support to protect jobs and businesses, allows employers to claim for a cash grant of up to 80% of a furloughed employees wages, capped at £2,500 a month.
Millions of people across the UK are expected to benefit from the scheme, with businesses including Pret a Manger, Brewdog and Timpsons using it to ensure staff keep their jobs and are paid whilst many high street businesses are closed.
HMRC’s easy to use portal has a step by step application process and up to 5,000 staff will be manning phone lines and webchat services to ensure any questions can be answered.
Chancellor of the Exchequer Rishi Sunak said: Click here for more information and to read the full article
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