Changes to the furlough scheme – announced 29 May 2020

UPDATE: The government has now extended the furlough scheme until December 2020. Please see here for further information. 

01 Jun, 2020 Updated 09 Sep, 2021
Covid-19FinanceInsights
furlough-scheme-update

UPDATE: The government has now extended the furlough scheme until December 2020. Please see here for further information. 

Last week, further details on the furlough scheme were announced. Here’s a rundown of the key points:

  • From 1 August 2020, employers will have to pay National Insurance contributions and pension contributions
  • From 1 September 2020, the government will only reimburse 70% of an employee’s salary (up to a maximum of £2,190). Employers are required to contribute 10%
  • From 1 October 2020, the government will only reimburse 60% of an employee’s salary (up to a maximum of £1,875). Employers are required to contribute 20%

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Covid-19, Finance