The time table and key dates for employers to comply with the job retention schemes announced by the government are set out below
1 JULY 2020
This was the start date of the new Flexible Furlough scheme – allowing furloughed employees to get back to work part time and be furloughed part time, with the Government and employers sharing the cost of their wages proportionately (subject to the usual furlough caps)
10 JULY 2020
The HMRC Calculator will be available to calculate furlough pay claims up to August 31 st 2020
31 JULY 2020
This is the final day by which to claim furlough pay for employees placed on furlough leave up to and including June 30th 2020. More information about the recently announced Job retention Bonus scheme is also expected to be available on or before this date
1 AUGUST 2020
Employers are now liable to pay National Insurance and pension contributions for furloughed employees’ eages.
1 SEPTEMBER 2020
The government will pay 70% of wages for those on furlough , up to £2190 per month.Employers will pay National Insurance and pension contributions ,plus 10% of furlough wages to make up 80% of the total , up to the usual cap of £2500 per month
1 OCTOBER 2020
The Government will pay 60% of wages for those on furlough, up to £1875 per month. Employers will pay National Insurance and pension contributions, plus 20% of furlough wages to make up 80% of the total, up to the usual cap of £2500 per month.
31 OCTOBER 2020
This is the end date of the CJRS, and the last date for which the Government will contribute to the wages of furloughed workers.
Full guidance on the Job Retention Bonus Scheme is expected to be published.
1 NOVEMBER 2020
TO 31 JANUARY 2021
This is the relevant period for eligibility for the newly announced Job Retention Bonus Scheme introduced by the Chancellor in his mini-Budget on 8th July 2020. For each furloughed employee who remains continuously employed during this 3-month period, employers will be able to claim a one-off £1000 bonus payment. Those employees will need to earn at least
£520 per month on average for each of those 3 months.
Employers will be able to claim the Job Retention Bonus. Accurate RTI data to 31st January 2021 will have to be provided by employers for their claims to be successful.
Contact Michael Newman HR for bespoke specialist advice.