Chancellor extends Job Retention Scheme until October

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (JRS) until the end of October.

Mr Sunak confirmed that employees will continue to receive 80% of their monthly wages up to £2,500.

However, the Chancellor said companies will need to start sharing the cost of the scheme from August.

The scheme will continue from August to October but with greater flexibility to support the transition back to work.

Employers currently using the scheme will be able to bring furloughed employees back part-time during this period.

Commenting on the extension, Mike Cherry, National Chairman of the Federation of Small Businesses (FSB) said 'Extending the JRS and allowing small firms to furlough staff on a part-time basis will protect thousands of livelihoods over the months ahead.

'Our members have been telling us loud and clear that the ability to furlough staff on a part-time basis will be central to aiding gradual recovery at a time when economic activity is still in the doldrums.

'We await further detail on the contributions that will be required of small employers after July. We need to ensure that those obligations are affordable for the many businesses that have had no revenue coming in for months now, but still have fixed overheads to worry about.'

Latest News

Robert S Boys Chartered Accountants
28-30 Grange Road West
Birkenhead
Wirral
Merseyside
CH41 4DA


Home | Contact us | Site map | Accessibility | Disclaimer | Privacy Notice | Help |

© 2020 Robert S Boys Chartered Accountants. All rights reserved. powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.

Robert S Boys is the trading name of Robert S Boys Ltd. Robert S Boys is registered in England & Wales. Registered office address: 28-30 Grange Road West, Birkenhead, Wirral, Merseyside CH41 4DA. Registered in England No: 07478154.

In accordance with the disclosure requirements of the Services Regulations 2009, our professional indemnity insurer is Partner Re Ireland Insurance Limited (Underwritten by on behalf of Nexus Underwriting Ltd) 150 Leadenhall Street, London, EC3V 4QT. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada. We are registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales and details about our audit registration can be viewed at www.auditregister.org.uk, under reference C006982141.