The Chancellor has announced the winding down of the furlough scheme for employers.
The current scheme will wind down with its current terms applicable for June and July with payroll up to £2,500 able to be claimed up to 80% of an employees salary.
In August, employers will need to contribute employer NI contributions and employee pension contributions.
In September, employers will need to contribute employer NI contributions, employee pension contributions and 10% salary contributions with HMRC providing 70% salary contributions.
In October, employers will need to contribute employer NI contributions, employee pension contributions and 20% salary contributions with HMRC providing 60% salary contributions.
Thereon the scheme will end.
The Chancellor also announced the introduction of a flexible furlough scheme from 1st July to allow employers to bring back employees for a number of days per week, while claiming a furlough grant for the days not worked.
No new employees will be allowed to be furloughed after 30th June. Any new employees to be furloughed, must be furloughed by 10th June.
Should you require any assistance with claiming furlough payments, Ascentant Accountants, Derby are offering this as a free service for its clients. Any enquiries should be emailed to email@example.com, or ring 01332 981920.