Bookkeeping Bites – The NEW Furlough FACTS!

New shoots? Phone ☎️ ringing again? Emails pinging through once more? Is it time to RE-GROW your STAFF NUMBERS after Corona Virus?

Well, never fear, the new, all improved, singing and dancing Corona Virus Job Retention Scheme (CJRS) is here, and wow, it has just the bells and whistles you need!

Ok, Ok, perhaps not sparkly bells and whistles you want to ACTUALLY play with 🙈 BUT! The changes to the furlough scheme, due in on 1st July might just help you get your staff back on the front line, where you need them, when business starts again….

WHY? Well, here’s the thing:

🤓 From 1st July, you can start to bring your furloughed employees back on a PART-TIME basis

🤓 Big G will pay for part of the days your staff can’t work

🤓 You pay for the days they do work…

🤓 Simples? No? And a super help if you are looking for that stepping stone back before bringing staff in full time again

What IS the catch? Well, none really, OTHER THAN:

🧐 For any staff to be eligible for this, they MUST have been previously furloughed for a minimum of THREE WEEKS BY the 30th June….

(BTW, that is kinda why we were harping on about the 10th June deadline last week 😊)

What about……?

🤓 Big G will CONTINUE to cover 80% of your furloughed staff’s wages AND your NI and pension contributions for JULY

🤓 In August, Big G still pays the 80% but YOU pay your NI and pension contributions (sounds fair to us)

🤓 In September, Big G will pay 70% and YOU will pay the remaining 10% of your furloughed staff wages… NI and pensions still down to you…

🤓 In October, Big G will pay 60%, you 20% and you are still covering the NI and pensions

After October? Nada, nowt, nitch, nil – this scheme will close on the 31st October…….

If you want to find out more, then check out this link here:

Watch this space TOMORROW for a run down of the all important DATES to do with furloughing AND the self-employed income support scheme!

Stay safe everyone 😍😍😍