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Furlough is being replaced with a new scheme and its not nearly as generous file photo.
Government guaranteed lending. As the scheme is voluntary there is therefore no option to appeal an employers decision not to take the grant. Its officially called the coronavirus job retention scheme and was launched in marchit allows employers to stand down workers but then claim a cash grant of up. What is the furlough scheme.
Employees must been on. The furlough scheme was due to end at the end of october but with just hours to go before the schemes conclusion the government announced it would be extended until december as a new national. Claim for some of your employees wages if you have put them on furlough or flexible furlough because of coronavirus covid 19.
The furlough scheme may be coming to an end on 31 october but employers still need to keep up to date with its changing structure. 19 th march 2020. Up to 3000 per month under the local restrictions support grant if their premises is forced to close.
Hmrc has admitted up to 35bn paid to employers to cover furloughed staff wages could have been a result of fraud or genuine errors. All employers with a uk bank account and uk paye schemes can claim the grant. Claim for wages through the coronavirus job retention scheme govuk.
This means that the employee that needs to be furloughed must have been on the employer payroll on 19 th march 2020. The grant will only be available. The furlough scheme comes to an end on october 31 and is being replaced by the less generous job support scheme throwing millions of workers into the lurch.
Tax treatment of the coronavirus job retention grant payments received by a business under the scheme are made to offset these deductible revenue costs. Treatment of grant straight from hmrc but how you want to show it in your management accounts is up to you.
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