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Covid-19 Job Retention Scheme

If you have staff and you think you will have to lay them off because you cannot operate your business in the same way due to the Coronavirus, then you need to change their status to furloughed. Your HR provider should be able to help you to do this.

If you have a cashflow problem this will not help as you still need to pay them and claim monies back, please see my previous post, Help for those with a Cash Flow problem. Hopefully this can help with any queries about this.

From what I can see you have to submit information to HMRC about the employees to be furloughed and their earnings through a NEW HMRC portal (which does not appear to be released as of yet as far as I can make out).

HMRC will reimburse 80% of the furloughed wages costs up to a cap of £2,500 (I presume per person however this is not clear). I don’t think you need to pay your staff’s full pay, only to the 80% or cap.

Please note current HMRC systems can’t do the payment, when updates are released I will share this information with you.



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