Overview of the scheme
On Friday 20th March, the government announced a job retention scheme, to avoid job losses and/or redundancies. The details currently are very high level and therefore we need to approach any action with a level of caution. The detail of the scheme was then published on 26th March 2020.
Here we set out the overview of the scheme and more importantly where there are any gaps.
This guidance will be updated as we receive further details. For our full range of Coronavirus Job Retention Scheme fact sheets, sign up here.
What is the scheme?
The government announced that (to avoid job losses and redundancies) they would fund an employee’s salary up to a value of 80% capped at £2,500 per month – where there is no work available for the employee.
Which business does it apply to?
Any UK organisation with employees can apply, including:
recruitment agencies (agency workers paid through PAYE)