Coronavirus Job Retention Scheme – FAQs
On 20 March 2020 the Chancellor of the Exchequer, Rishi Sunak, announced an unprecedented support package to support UK businesses and employees suffering from the economic effects of COVID-19. The most significant revelation was undoubtably the introduction of the Coronavirus Job Retention Scheme which created the new employment status of ‘furloughed worker’ and promises to reimburse employers for a proportion of that individuals wages.
The guidance note linked below details all information currently available in relation to how the Scheme will operate. Please note, details are based on Government guidance to date (27 March 2020). It is unclear if legislation will be passed to implement the Scheme, or if HMRC will impose additional restrictions. We hope to receive further guidance over the forthcoming weeks and will provide regular updates once further information is made available.