News

Changes to furlough scheme from 1 July 2021

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme is open to all UK employers to access support to continue paying part of their employees’ salary for employees that would otherwise have been laid off during this crisis.

The end date for CJRS has been extended multiple times since the scheme was launched and in the Spring Budget 2021, the Chancellor announced a final extension until 30 September 2021. Employees can receive up to 80% of their salary for hours not worked subject to a monthly maximum of £2,500 until the scheme ends.

Since 1 July 2021, employer contributions towards the cost of unworked hours have been put in place. Employers are required to contribute 10% towards wages for hours not worked during July rising to 20% in August and September 2021.

This means that since 1 July 2021, government support has been lowered to 70% of wages up to a reduced £2,187.50 cap. Employers will pay employers’ NIC, pension costs plus 10% of wages for hours not worked (up to £312.50) to a total cap of £2,500 for hours not worked.

From 1 August until 30 September 2021, government support will be lowered further to 60% of wages up to a reduced £1,875 cap and employers paying 20% of wages for hours not worked up to £625.

Source: HM Revenue & Customs Tue, 06 Jul 2021 00:00:00 +0100

Newsletter

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

> SIGN UP FOR THE NEWSLETTER
> LOGIN

Some accountancy websites also provide pages and pages of tax information, helpsheets, etc. We prefer to give clients personally tailored advice. So, if you want details of tax rates and allowances just go to the HMRC website on which you should find what you’re looking for. If you need more individual advice please contact us.

Below are links to websites you may find of interest, but as we like to support our local community and clients, we have included links to websites that may be of interest:

HMRC
FT
BBC
VEALE WASBROUGH VIZARDS
CESP
PRACTICE INDEX
SIMCOMM ACADEMY

More Local:
FOOTPLATE EXPERIENCE
ANGLEBURY PRESS
OFFCAMBER.CO.UK