Due to the lockdown coming into place on Thursday 5th November the government have agreed to extend the furlough scheme into December. All non-essential businesses are to close.
Here is a summary of the current guidelines for the extended furlough scheme.
- Furloughed employees will receive 80% of their current salary for hours not worked, up to a maximum of £2,500.
- Businesses will pay Employers National Insurance and Pension Contributions
- The scheme will retain the flexible element enabling employees to work reduced hours where possible as agreed with their employer.
- To be eligible to be claimed for under this new extension the employees must have been on an employer’s PAYE payroll by 23:59 on 30 October 2020.
- Employees can be on any type of contract.
- Employers are still able to top up the extra 20% of employee wages at their own expense if they wish.
As with any of the scheme releases there will be some firming up to the guidelines. I will post these as I become aware of the HMRC releases. For further information visit https://www.gov.uk/government/news/furlough-scheme-extended-and-further-economic-support-announced
Written by Jo at Barnowl Bookkeeping. Do you need some extra help with your business? I provide the following services to small businesses : Payroll, VAT, Bookkeeping, Self Assessment and CIS. Being located near King’s Lynn I am within easy reach of Swaffham, Downham Market, Fakenham, Wisbech and the North Norfolk Coast. For further information call me on 07771 333324 or visit my website http://www.barnowl-bookkeeping.co.uk/