Almost a year on and I cant believe I am sitting here writing about the Job Retention Scheme again. When the school closed last March, I remember saying to the other school mums, hopefully things will be back to normal after the Easter Holidays...wow, how wrong was I.
The Coronavirus Job Retention Scheme (CJRS) was due to end in April 2021 has now been extended until the end of September 2021.
Up to June 2021 - the UK government will continue to pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month.
July - CJRS grants will cover 70% of employees’ usual wages for the hours not worked, up to a cap of £2,187.50. Employers will need to continue to pay their furloughed employees at least 80% of their usual wages for the hours they do not work during this time, up to a cap of £2,500 per month. This means employers must contribute10% towards the cost of unworked hours.
August - CJRS grants will cover 60% of employees’ usual wages up to a cap of £1,875. Employers will need to continue to pay their furloughed employees at least 80% of their usual wages for the hours they do not work during this time, up to a cap of £2,500 per month. So this means employers must contribute 20% towards the cost of unworked hours. They also need to pay the associated Employer National Insurance contributions and pension contributions on subsidised furlough pay from their own funds.
September - CJRS grants will cover 60% of employees’ usual wages up to a cap of £1,875. Employers will need to continue to pay their furloughed employees at least 80% of their usual wages for the hours they do not work during this time, up to a cap of £2,500 per month. So this means employers must contribute 20% towards the cost of unworked hours. They also need to pay the associated Employer National Insurance contributions and pension contributions on subsidised furlough pay from their own funds.
When claiming for periods from 1 May 2021 onwards, eligible employees must have been employed on 2 March 2021 and had a Real Time Information (RTI) submission to HMRC notifying a payment of earnings for that employee by their employer between 20 March 2020 and 2 March 2021.
If you have any questions regarding the scheme, please get in touch with us at solutions@apexpb.co.uk
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