DSM Chartered Accountants business news update 13th May 2020 – Job Retention/Furlough Pay Grant AND Business Closures Update
Job Retention Scheme Grant
Yesterday, 12th May, the Chancellor announced the Job Retention Scheme grant, also known as the furlough pay grant, will be extended in its current form until 31st July 2020. From August to October the scheme will continue but the grant paid to employers will be substantially less and there will new rules to accommodate a return to work for all employees. Details were not yet released of what will be involved from August but are expected to be released by the end of May.
The government’s detailed guidance has not yet been updated for the Chancellors announcement but hopefully there will be another update soon, on the below link :-
Business Closures update
Earlier this week the Prime Minster announced more businesses will be able to re-open and more employees can return to work. Below is the link to the government’s detailed guidance for all businesses, which has just been updated today 13th May.