The Coronavirus Job Retention Scheme is now live. Those who manage company payroll will be able to access the scheme in the usual way via the Government Gateway here.
This scheme enables employers to be reimbursed by the Government for the wage costs of furloughed staff, who otherwise would have been laid off as a result of the adverse economic circumstances caused by the Covid-19 pandemic.
Employers can claim back 80% of a furloughed employee's wage from HMRC, but this is capped at a maximum of £2500 per employee per month.
Last week, the Government brought forward the start-date of the scheme from 28th February to 19th March. This means if an employer notified HMRC (via a standard RTI submission) of a person's employment on or before 19th March, the employee will be eligible for the Coronavirus Job Retention Scheme.