Job retention scheme 80%

[Guest]

Does anyone have a link on more information regarding this? I cant seem to find anything at all other than an outline of it, nowhere to apply etc?

[Amethyst]

It's not been set up fully as yet. It will be an application through HMRC.

https://www.gov.uk/government/public...for-businesses


How to access the scheme
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You will need to:

• designate affected employees as ‘furloughed workers,’ and notify your employees of this change - changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiation

• submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required)

HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers.

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If your business needs short term cash flow support, you may be eligible for a Coronavirus Business Interruption Loan.