A recent update was provided by Rishi Sunak, who announced a further series of changes to the Government’s furlough scheme. In what has been seen as a surprising, but welcoming announcement including workers being able to go back part-time from July.
Here’s what you need to know:
As of Wednesday 1st July, all businesses using the Government’s furlough scheme will be able to bring back furloughed employees part-time and even if they don’t, our Government will continue to pay the 80% of staff salaries during June and July.
- June and July: The state will continue to pay 80% of salaries, plus national insurance and pension contributions as it does now. Employers are not required to pay anything.
- August: The state will pay 80% of wages, up to a cap of £2,500/mth. Employers will now have to pay national insurance and pension contributions.
- September: The state will pay 70% of wages, up to a cap of £2,190/mth. Employers will have to pay national insurance and pension contributions, and 10% of wages to make up 80% of the total, up to a cap of £2,500/mth.
- October: The state will pay 60% of wages, up to a cap of £1,875/mth. Employers will then need to pay national insurance and pension contributions, and 20% of wages to make up 80% of the total, up to a cap of £2,500/mth.
However, it is also worth noting that the scheme will close to any new entrants on 10th June.
Hopefully this is a sign that the economy and businesses across the UK are slowing getting back to full strength. If there is anything that WestWon can do to help, in the form of business funding or advice , then please get in touch. We have already assisted businesses in accessing funds available through government schemes.
For more information on how we can help, please see my details below and get in touch!
01494 611 456