Furlough scheme claims deadline approaching
The furlough scheme, professional referred to as the Coronavirus Job Retention Scheme (CJRS) claims for periods ending on or before 30 June 2020 must be made by 31 July 2020, HMRC has reminded employers.
Employers and agents must submit all CJRS claims for periods ending on or before 30 June 2020 by 31 July 2020. After this date it will not be possible to make claims for these periods. Employers need to have made a claim on or before 31 July to be able to make a claim for July or future months.
HMRC’s calculator can now calculate claims for pay periods in July and August, but the calculation of usual and actual hours for flexibly furloughed employees must be done manually and entered into the calculator.
From 1 August 2020 the scheme will no longer fund employers’ national insurance and pension contributions for employees on the furlough scheme.
For August, the government will continue to pay 80% of wages, up to a maximum of £2,500 proportional to the hours the employee is furloughed. For September, the government will pay 70% of wages up to £2,187.50, and for October, the government will pay 60% of wages up to a maximum of £1,875. During these months employers will have to top up employees’ wages to ensure they receive 80% of their wages up to the £2,500 cap.
In addition, HMRC said that more information on the Job Retention Bonus will be available on 31 July.
The Job Retention Bonus is a one-off payment of £1,000 to employers who have claimed under the CJRS for each furloughed employee who remains continuously employed until at least 31??? ?January 2021.
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