Bookkeeping Bites – Furlough, Your New Flexible Friend!

Are you ready? What for? FURLOUGH PART TWO, that’s what!

We love watching Dishy-Rishi and his updates on behalf of Big G, and this time he did not disappoint, but did leave our heads spinning, just a little bit…..

“And bend, and stretch” Welcome to the all new ‘Flexible Furloughing’ straight from the yoga studio and raring to go!

🤓 From 1st July all businesses using the furlough scheme, will be able to bring back furloughed employees on a part time basis….

🤓 So, if your business doesn’t feel ready to bring back your employees on a full-time basis, they can come back on a part time basis…

🤓 Big G will pay 80% of the furloughed days, your business will pay for the days they work….

🤓 You just need to make sure the new working arrangements are in place for at least 1 week

🤓 But rest assured, if your business is not ready, you can still carry on with furloughing your staff on a full-time basis

“Money, money, money, Must be funny, in a Rishi-world” lots to learn on the new amounts Big G is happy to contribute to your employee’s pay….. Here goes…

🤓 June and July: no change people, no change!

🤓 August: Big G still contributes 80% but YOU pay the Employer’s NI and Pension

🤓 September: Big G contributes 70% of employee wages, you make up the 10% (to total 80%) and pay the Employer’s NI and Pension

🤓 October: Big G contributed 60% of wages, you 20% and pay Employer’s NI and Pension

“Entries Closed, I say, ENTRIES CLOSED!” – Big G has put a CLOSING date in for furloughing your staff, with

👍👍 NO NEW ENTRANTS from the 30th JUNE 👍👍

That means your staff have to be furloughed by the 10th of June to hit the three week minimum furlough period, to be eligible by the 30th June…

Phhhhhhhheeeeeeeeweeeeeeee! You see what we mean by a bit of head spinning!!

For more reading, go to our esteemed colleague at On The Spot accounting with this, their take on things:

We hope this helps, and just shout if you have any queries, it is a THORNY-FURLOUGH world out there.

Stay safe everyone 😍😍😍