Job Retention Scheme: Flexible Furlough
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The COVID-19 Job Retention Scheme is now being updated at the start of every month and we have put together a guide explaining Flexible Furlough and a brief timeline of the changes that are being phased in.
Month | Change |
July | Flexible furlough commences |
August | In August employers will be asked to contribute to furloughed employees’ pensions and employers’ NIC |
September | In September the grant available will be reduced to 60% |
October | In October the scheme is scheduled to end |
This bit gets tricky and we have resources you can access to help you get to grips with the calculations or alternatively, you can speak to us directly.
You will begin by taking the usual hours worked and subtracting from them the number of hours actually worked to arrive at the number of furloughed hours.
However, calculating the “usual hours” isn’t just as simple as multiplying 40 hours by 4 weeks so be sure to seek the advice of a professional if you’re unsure.
Linford Grey is keeping regularly updated on the changing legislation and how to precisely execute the changes being introduced.
If you have any questions or queries please feel free to get in touch.