Help for businesses
Coronavirus Job Retention Scheme
If you cannot maintain your workforce because your operations have been affected by coronavirus, you can furlough employees and apply for a grant to cover a portion of their usual monthly wage costs.
From 1st September 2020, the government will pay 70% of wages up to a maximum cap of £2,187.50 for the hours the employee is on furlough. Employers will top up employees’ wages to ensure they receive 80%,up to £2,500.
From October 2020, the government will pay 60% of wages up to a cap of £1,875 for the hours the employee is on furlough. Employers will top up employees’ wages to ensure they receive 80%, up to £2,500.
The Coronavirus Job Retention Scheme will close on 31st October 2020.
Job Retention Bonus
On 8th July 2020 the Chancellor announced that a Job Retention Bonus will be introduced to help firms keep furloughed workers. Employers will receive a one off bonus of £1,000 for each furloughed employee who is still employed as of 31st January 2021.