Coronavirus Job Retention Scheme (CJRS) Extension – What does it mean?
With lockdown #2 the government decided to extend the Coronavirus Job Retention Scheme (CJRS) which was due to stop at the end of October 2020. This new CJRS Extension or also known commonly as the Furlough Grant will run from November 2020 to March 2021 with the government reviewing the policy in January 2021.
How much can I claim under the CJRS Extension?
- You can claim 80% of the furloughed employees salary per month.
- The maximum you can claim is £2,500 per employee per month.
- Flexible furloughing is allowed as well as full-time furloughing. This gives you flexibility to use employees in the business when you need to and give you the financial support if you do not have enough work for them 100% of their time. What else should I know about the CJRS Extension?
- You will need to pay Employer NI and statutory pension contributions and pay for the hours the employee works.
- Employees must not work for the business during the time they are recorded as being on furlough.
- You will need to record the time the employee works and those being claimed for.
- The grant must be claimed within 14 calendar days after the month they relate to. We will file this for you long before that!
Who is eligible?
- Any business who has UK PAYE and UK bank account with employees on payroll on 30th October 2020 reported to HMRC via RTI.
- If you are wanting to claim the Coronavirus Job Retention Scheme (CJRS) extension then we will do this for you. We have already contacted all our clients who did have done the original CJRS/furlough grant and we will be reaching out to everyone else to see if you are needing to take advantage of this grant.
What else is new?
- Unfortunately theJob Retention Bonus will no longer be paid in February 2021 and government have said an alternative will be put in place.
- The Job Support Scheme has of course been postponedas the CJRS Extension takes its place.
If you have any question on the CJRS do contact us.
