Summary of the main changes planned for the furlough scheme, ahead of detailed guidance expected from the Government on 12 June
Changes to Coronavirus Job Retention Scheme. Flexible Furlough scheme introduced from 1 July, employers to gradually increase their contribution to wage costs beginning with NI and employer pension contribution costs and rising to 20% by October when the scheme will end. Self Employment Income Support Scheme extended, now ending in August, with a single payment of up to £6,570 to cover June, July and August.
Calls for parity for the self-employed with those furloughed. SEISS v CJRS
Plans to reopen retail in a safe and secure manner providing the Government’s five key tests are met, retailers conduct risk assessments and comply with COVID-19 Secure guidelines for shops and branches.
The government outlines the first steps society will take to safely restart the economy and stresses that all steps are conditional on keeping the virus under control. Calls for clear guidance on Covid secure status and phasing of government support required.
The practical help we, as accountants, are giving to support our clients today, and how we plan to keep on helping them in the future.